Premier Energies Secures ₹1,087 Crore Solar Orders

26 Nov 2024 , 11:59 AM

Premier Energies Ltd said its subsidiaries Premier Energies Global Environment Private Limited, Premier Energies International Private Limited, and Premier Energies Photovoltaic Private Limited have won orders of ₹1,087 crore.

These orders are bagged by two major independent power producers (IPPs) and the third one is an additional customer. Of these, ₹964 crore is for solar modules and ₹123 crore for solar cells.

In the National Stock Exchange, shares of Premier Energies Ltd is trading at ₹1110, which is a 1.37% gain than the previous close. The stock has gained a total of 32% in the last one year.

The company has announced to the Bombay Stock Exchange that the supply of solar modules is set to start in January 2025. The domestic order in itself does not include any related-party transactions, clarified Premier Energies. The transactions were carried out at arm’s length with no involvement or interest from the promoter group in the awarding entities. The company also disclosed that its trading window will be closed from November 26 up to November 27, 2024 and will re-open on November 28, 2024.