Premier Energies Bags Multiple Orders For Cells & Modules Worth Rs 1,087cr

Premier Energies Bags Multiple Orders For Cells & Modules Worth Rs 1,087cr

Hyderabad-based solar manufacturing company Premier Energies announced receiving fresh orders worth Rs 1087 crore. The company in its latest in its latest filing informed the exchanges about its recent order.

The company informed its investors that it received three orders for solar equipment. it bagged multiple orders from two large Independent Power Producers (IPPs) and one domestic customer. These orders are related to the supply of solar modules and solar cells. The supply of these will be done from January 2025, the company said.

Multiple orders

Giving further details, Premier Energies said that these multiple orders have a cumulative value of Rs 1087 crore. This comprises orders worth Rs 964 crore for solar modules. Meanwhile, it has also received orders for solar cells worth Rs 123 crore.

“We hereby inform you that Premier Energies Global Environment Private Limited, Premier Energies International Private Limited, Premier Energies Photovoltaic Private Limited the subsidiaries of Premier Energies Limited, have received and accepted multiple orders aggregating to INR 1087 Crore from 2 large Independent Power Producers (IPP) and 1 other customer. These orders include INR 964.00 Crores for Solar Modules and INR 123.00 Crores for Solar Cells,” a statement from the company said.

Orders & Strength

Earlier this month, the company also announced receiving multiple orders from two domestic IPP customers for the supply of solar modules and solar cells. The cumulative value of the orders stood at 560 crore. The company had planned to supply these orders between December 2024 to May 2025.

Noteworthy, the solar company is one of the early adopters of solar cell manufacturing in India. It currently produces polycrystalline and mono-PERC solar cells. The green energy equipment maker has also planned to invest in a new 4 GW of solar cell plant in Telangana. It has planned to produce TOPCOn solar cells from its proposed new plant.

Nevertheless, it issued its Initial Public Offering (IPO) this year and entered into the stock market. As per the Red Herring Prospectus of the company, all of its money raised through the public market was aimed for its new TOPCOn solar cell plant in Telangana.