Muladhara Energy teams up with Nordische Energy to tap fast-growing energy storage solution market in Europe

Bangalore-based Muladhara Energy Systems Pvt Ltd has teamed up with Nordische Energy Systems Pvt Ltd (NES), a new-age innovative startup in energy storage technology that was founded in 2022, to tap the large and growing storage battery market across Europe.

- RITWIK MUKHERJEE

One of the directors of Muladhara, Pradeep Krishnappa, who is also the managing director of Bluejay Group, has also chipped in 20 per cent stakes in NES in his individual capacity.

The company has already got its maiden order for a 5MW storage battery from Germany and hopes to take the order volume up to 20 MW over the next two years from across Germany, Spain and Eastern Europe. In value terms, it will be nearly Rs 80 crore, Pradeep Krishnappa, director, Muladhara, told The Statesman.

As per the agreement between the two companies, client acquisition and delivery will be Muladhara's responsibility and designing, transfer of technology, license and AMC (if at all is required) against a fee, will be NES's responsibility.