Premier Energies to Establish 1 GW Solar Module Facility in Telangana
POWER & RENEWABLE ENERGY

Premier Energies to Establish 1 GW Solar Module Facility in Telangana

Premier Energies Global Environment (PEGEPL), a subsidiary of Premier Energies, has announced plans to build a 1 GW solar module manufacturing facility in the EMC Maheshwaram industrial zone, Telangana. The facility will be located on leasehold land owned by the Telangana Industrial Infrastructure Corporation (TGIIC). This project is part of Premier Energies' strategy to expand its tunnel oxide passivated contact (TOPCon) module manufacturing capabilities and meet the increasing demand for high-efficiency solar modules. The facility, approved by the company's capex committee and board of directors, is expected to be completed by March 2025. The facility will be situated in one of India's Electronics Manufacturing Clusters (EMC), which are designed to provide infrastructure and common facilities to attract investments in electronics manufacturing. Premier Energies had previously invested Rs 4.83 billion to set up a 1.5 GW plant in Hyderabad to produce advanced monocrystalline passivated emitter and rear cell (monoPERC) technology cells using larger wafers. Additionally, the company’s Rs 28.3 billion initial public offering (IPO) in August 2024 was highly successful, with oversubscription of 74 times. In the same month, Premier Energies entered into a joint venture with Heliene, a North American solar PV module manufacturer, to set up a solar cell manufacturing facility in the U.S. Premier Energies also raised Rs 2 billion in 2021 from GEF Capital Partners, a private equity firm focused on climate investment. According to the sources 2024 report, India added 11.3 GW of solar module and 2 GW of solar cell capacity in the first half of the year, with strong demand contributing to significant solar project pipelines totalling 132.7 GW from 2024 to 2026. As of June 2024, India’s cumulative solar module manufacturing capacity stood at 77.2 GW, while solar cell capacity reached 7.6 GW. (Mercom)

Premier Energies Global Environment (PEGEPL), a subsidiary of Premier Energies, has announced plans to build a 1 GW solar module manufacturing facility in the EMC Maheshwaram industrial zone, Telangana. The facility will be located on leasehold land owned by the Telangana Industrial Infrastructure Corporation (TGIIC). This project is part of Premier Energies' strategy to expand its tunnel oxide passivated contact (TOPCon) module manufacturing capabilities and meet the increasing demand for high-efficiency solar modules. The facility, approved by the company's capex committee and board of directors, is expected to be completed by March 2025. The facility will be situated in one of India's Electronics Manufacturing Clusters (EMC), which are designed to provide infrastructure and common facilities to attract investments in electronics manufacturing. Premier Energies had previously invested Rs 4.83 billion to set up a 1.5 GW plant in Hyderabad to produce advanced monocrystalline passivated emitter and rear cell (monoPERC) technology cells using larger wafers. Additionally, the company’s Rs 28.3 billion initial public offering (IPO) in August 2024 was highly successful, with oversubscription of 74 times. In the same month, Premier Energies entered into a joint venture with Heliene, a North American solar PV module manufacturer, to set up a solar cell manufacturing facility in the U.S. Premier Energies also raised Rs 2 billion in 2021 from GEF Capital Partners, a private equity firm focused on climate investment. According to the sources 2024 report, India added 11.3 GW of solar module and 2 GW of solar cell capacity in the first half of the year, with strong demand contributing to significant solar project pipelines totalling 132.7 GW from 2024 to 2026. As of June 2024, India’s cumulative solar module manufacturing capacity stood at 77.2 GW, while solar cell capacity reached 7.6 GW. (Mercom)

Next Story
Infrastructure Urban

Kartik Daftari Named MSME CEO of the Year by MSME Chamber of India

Hi-Tech Radiators, a global leader in the manufacturing of transformer radiators and tanks, has been awarded the prestigious MSME Best CEO Business Excellence Award by MSME Chamber of commerce and Industry of India. The grand ceremony took place at, Vigyan Bhavan, Rajpath, Central Secretariat, New Delhi, where industry leaders and achievers were recognised for their exceptional contributions. Kartik Daftari, CEO, Hi-Tech Radiators, was conferred with the CEO of the Year award in recognition of his visionary leadership, strategic acumen, and unmatched commitment to innovation and operation..

Next Story
Real Estate

Shivansh Heights Enhances Security with Hikvision Video Door Phones

Tucked in the middle of ‘City of Waterfalls’ Ranchi, the ‘Shivansh Heights’ is one of the most prestigious residential projects in the town. A luxurious landmark with an iconic architectural design stands out as a premium property. A project with luxuriously lined interiors within each of the 70 exclusive apartments and 5 duplex apartments. The core team of developers thoughtfully added the dimension of premium security to this heavenly abode. The innovative apartment security solution was designed with the help of Hikvision’s solution team based on the wish list. The bespoke se..

Next Story
Infrastructure Urban

Bhatia Contracting to Deliver 1050 Villas in Al Khawaneej 2 by May 2025

Bhatia General Contracting, a leading contractor in the UAE, will hand over 1,050 exquisite villas in Al Khawaneej 2 district in May 2025, as part of a major government initiative to provide high-quality, modern housing for Emirati families and support sustainable urban development in Dubai. The project exemplifies Bhatia Group’s dedication to providing a variety of best-in-class housing options, in line with its 50-years of excellence and commitment to enhancing UAE’s real estate landscape.  The project, which is now in its final phase, plays a crucial role in the ‘Dubai 2033 ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?