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Premier Energies Bags ₹1,460 Crore Solar Orders

19 Jan 2025 , 10:36 PM

Three subsidiaries of Premier Energies Ltd. have received orders amounting to ₹1,460 crore for the supply of solar PV cells and modules, the company said.

The orders for the subsidiaries (Premier Energies Global Environment, Premier Energies International, Premier Energies Photovoltaic) were received from two prominent Independent Power Producers (IPP) and other customers.

With specific mention that the listed orders comprise ₹1,041 crore for solar modules and ₹419 crore for solar cells. The company’s statement said the supply of solar PV cells and modules is slated to start in May 2025.

The company’s board approved the establishment of a 1 GW solar photovoltaic TOPCon Module manufacturing plant in EMC Maheeshwaram, Telangana last month. The facility will come up on a leasehold land that belongs to the Telangana Industrial Infrastructure Corporation and is for completion by March 2025.

As stated in the company’s Red Herring Prospectus (RHP), this new 1 GW facility shall expand the manufacture capacity of the company. The company, however, did not provide any details around the capital expenditure (capex) and funding for this facility.

In November, Premier Energies’ subsidiaries secured further orders worth ₹1,087 crore. The orders of ₹964 crore of solar modules were secured from two Independent Power Producers and another customer; ₹123 crore are for solar cells.

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