Premier Energies and Syrma SGS Technology have jointly acquired KSolare Energy, a leading Pune-based solar inverter manufacturer, for Rs 1.7 billion. Premier Energies will hold a 51 per cent stake and Syrma SGS 49 per cent.

Founded over 13 years ago, KSolare posted revenue of Rs 3.42 billion in FY2025 and runs a Pune facility with a capacity of 500,000 inverters annually. It specialises in on-grid, off-grid, and hybrid inverter solutions for the residential segment.

The acquisition marks both firms’ entry into the rapidly growing residential solar inverter market under the Government of India’s PM Surya Ghar Muft Bijli Yojana. A new brownfield plant in Pune will double production capacity to one million inverters per year, combining Premier Energies’ solar expertise with Syrma SGS’s electronics manufacturing capabilities.

Chiranjeev Saluja, MD & CEO, Premier Energies, said the partnership will strengthen India’s clean energy ecosystem, while Jasbir Gujral, MD, Syrma SGS, noted it will deliver affordable, next-generation inverter solutions.

Premier Energies, a 30-year-old solar module manufacturer, reported Rs 66.52 billion in FY2025 revenue and is expanding to 10 GW capacity across the solar value chain while venturing into battery storage.