Jayesh Ranjan unveils Phase-I of Cygni Energy's gigafactory
HYDERABAD: Jayesh Ranjan, CEO, Industry and Investment Cell in the CMO, unveiled the first phase of Cygni Energy's Battery Energy Storage System (BESS) Gigafactory at E-Mobility Valley in Maheshwaram on Wednesday.
The fully automated, 1.6 lakh sq. ft facility, set up with an investment of over Rs 100 crore, marks the Hyderabad-headquartered company's foray into large-scale energy storage manufacturing, according to a release.
Located on a five-acre campus within the Electronics Manufacturing Clusters (EMC), the Phase-I facility has an initial capacity of 4.8 GWh and will produce high-capacity battery packs for electric vehicles and grid-scale storage systems, catering to Independent Power Producers (IPPs) and large stationary storage projects.
Terming the launch a 'transformative step toward sustainable energy, manufacturing excellence and innovation', Ranjan said the state is committed to supporting such initiatives.
Cygni founder and CEO Venkat Rajaraman said the Phase-II expansion will raise the facility's capacity to 10.8 GWh. The total investment across both phases will be Rs 250 crore, generating over 1,000 direct and indirect jobs in the next 24 months.
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