SWELECT’s Singapore Arm to Form JV with FortifyGrid to Develop Solar BESS Projects
SWELECT Energy Systems’ Board of Directors has approved a proposal for its Singapore subsidiary to form a 50:50 joint venture with FortifyGrid LLC to develop solar BESS projects across Singapore and the ASEAN region.
February 19, 2026. By Mrinmoy Dey
It involves the formation of a new joint venture entity in Singapore with equal shareholding of 50:50 between SWELECT’s Singapore arm and FortifyGrid, the company stated in a regulatory filing.
It further added that the proposed JV will focus on design, engineering, procurement, construction management, and project controls for solar BESS projects in the region.
According to the regulatory filing, the joint venture agreement is yet to be executed, and the entity is yet to be incorporated. The company said the partnership is expected to strengthen its overseas presence by leveraging FortifyGrid’s expertise in energy storage and advanced technologies, including artificial intelligence.
SWELECT noted that the JV will become a related party after incorporation. The development aligns with the company’s strategy to expand its renewable energy and energy storage footprint in international markets.
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