SWELECT Energy Systems’ wholly owned Singapore subsidiary has received board approval to establish a 50:50 joint venture (JV) with FortifyGrid LLC to develop and deploy solar photovoltaic (PV) with battery energy storage system (BESS) projects across Singapore and the ASEAN region. The JV agreement is pending execution and entity incorporation.
Under the arrangement, the new JV will focus on delivering turnkey solar-plus-BESS project solutions, including design, engineering, procurement, construction management and project controls. SWELECT’s Singapore entity and FortifyGrid will each hold 50 per cent of the joint venture’s equity, combining SWELECT’s regional presence and project execution capability with FortifyGrid’s technical expertise in energy storage technologies and advanced systems integration.