HEG Advanced Materials, in an exchange filing said, its subsidiary Replus Engitech had inked the MoU with Indus Towers to explore collaboration on battery energy storage system (BESS) solutions for telecom infrastructure in India.
As per the filing, Replus intends to make available dedicated available dedicated BESS production capacity of 1.5 GWh over a two-year period to support the evolving energy requirements of telecom infrastructure.
The filing further said Replus is also planning to expand its portfolio of telecom energy storage solutions, including higher-capacity battery systems, while exploring emerging technologies such as sodium-ion batteries that can enhance reliability, energy efficiency and lifecycle performance across telecom applications.
Earlier this month, Replus Engitech had received orders from Indus Towers worth ₹217.56 crore for the supply of lithium-ion battery banks. The orders are to be executed on or before March 31, 2027. The deadline could be extended if mutually agreed upon by both parties.
Shares of Indus Towers are off opening highs but are holding on to gains of 0.9% at ₹370.7. The stock has declined 5% over the last one month and is down 15% so far this year.
Meanwhile, HEG Advanced Materials shares are trading 1.3% higher at ₹241.85 apiece on the BSE.Also Read: Avalon Technologies shares fall 5% after equity worth ₹883 crore changes hands in block deals