Premier Energies, incorporated in April 1995, is currently India’s 2nd largest integrated solar cell and module manufacturer and the largest exporter of solar cells to the U.S. The company boasts a strong clientele, including major players like NTPC, Tata Power, Panasonic, Shakti Pumps, Continuum, and Luminous. Its robust order book, valued at over ₹5,927 crore as of July 31, 2024, indicates strong revenue visibility moving forward.
The company plans to expand significantly, aiming to double its solar module and quadruple its solar cell production. These expansion efforts will be financed through IPO proceeds and ₹2,200 crore financing from IREDA (Indian Renewable Energy Development Agency). Premier Energies has also secured joint ventures (JVs) that will enhance its technological and operational capacities, including:
- Heliene Inc. (USA JV) – To establish TOPCon solar cell manufacturing in the U.S., supporting international growth.
- Taiwanese JV – To set up solar wafer and ingot manufacturing, reducing dependence on Chinese imports and improving margins and operational efficiencies.
Current Capacities and Expansion Plans:
- Solar Module: 2 GW (with an additional 1 GW by early 2025 and 4 GW from a new facility)
- Solar Cell: 4.13 GW (with an additional 4 GW from a new facility)
- Solar Wafer: Currently no capacity, but the company plans to add 2 GW within the next 12 months.
- Solar Ingot: No current capacity, but management has provided guidance to add this within the next 18-24 months.
- USA Expansion: The JV with Heliene Inc. aims to add 1 GW of solar cell manufacturing capacity.
Premier Energies operates five manufacturing facilities in Hyderabad, Telangana. Three of these units are dedicated to solar module manufacturing, while the others focus on producing both solar cells and modules. In 2022, the company transitioned from polycrystalline to monocrystalline PERC solar cells due to their higher efficiency.
India’s leading manufacturer and supplier of PV Solar Cells and Modules (premierenergies.com)
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