Headquartered in Greater Hyderabad, Telangana, the company is now the second-largest integrated manufacturer of solar cells and modules in India
Solar equipment maker Premier Energies is looking to expand its annual solar cells and modules manufacturing capacity to three gigawatts (GW) for which it will invest around Rs 1,200 crore in the next two years.
“The plan is to be a three-GW facility, and we are planning to invest another Rs 500 crore in the coming four months to add another (one) GW and again Rs 500 crore in the next financial year,” Premier Energies founder and Managing Director Chiranjeev Saluja said in a statemnt.
“The idea is to become 3 GW facility from 1.25 GW Module and 1.75 GW Cells,” he added.
Premier Energies currently has an annual manufacturing capacity of 1.25 GW modules and 0.75 GW cells. He further said that the company is planning to invest another Rs 1,000-Rs 1,200 crore over the next two years.
The solar giant is also set to launch its new state-of-the-art facility at E-City Hyderabad, according to the statement. Built with an investment of Rs 483 crore, the new venture will elevate the company among the top-five solar manufacturing players in India.
The new manufacturing unit, a greenfield (fresh) project with a capacity of 750 MW solar cells and 750 MW solar modules, will produce MCCE-textured multi-crystalline cells and modules, mono PERC cells and modules as well as 19.2 per cent efficiency polycrystalline cells and modules.
The plant has been designed to produce the latest generation products by incorporating monocrystalline PERC technology. This technology will usher in change by increasing the wafer size to 182 mm and 210 mm, the statement read.
Speaking on the launch, Premier Energies founder and Chairman Surender Pal Singh said, “It has been our vision to set up a business that would contribute to the environment for the larger good of the society. This new world-class facility takes us a step closer to this vision.”
Saluja also stated that this new facility is a symbol of our strong commitment to the the Indian power sector, and a shining example of the success of the government’s ‘Make in India’ initiative.
Headquartered in Greater Hyderabad, Telangana, the company is now second-largest integrated manufacturer of solar cells and modules in India. The company has completed 25 years of operations in 2020.