India’s Sainik Industries, Albania’s Vega Solar to build battery plant in Albania

Sainik Industries and Vega Solar will commit an equal investment in the joint venture, the Indian company said in a LinkedIn post.

Construction for the manufacturing plant is set to begin within two years, Vega Solar said last week, without disclosing the name of the Indian company.

Based in Noida, a city in the Indian state of Uttar Pradesh, Sainik Industries was established in 2005. It focuses on the production of lithium-ion batteries and lithium iron phosphate batteries, according to its website.

Established in 2018, Vega Solar specialises in rooftop solar array installations. Last year, the company told SeeNews it had shifted its focus to large-scale renewable energy projects.