Premier Energies To Setup 1GW Of New Module Unit In Telangana

Premier Energies To Setup 1GW Of New Module Unit In Telangana

Premier Energies today announced the approval of its Board for setting up a new 1 GW of new solar module unit. The new TOPCOn-based solar module factory has been planned at Maheeshwaram in Telangana. The Telangana-based solar module and cell maker informed about its latest move in its filings.

The company spearheaded by Surender Pal Singh and Chiranjeev Saluja told its investors that the Capex Committee of Directors of the company and the Board of Directors approved the plan. The firm has fixed the target of March 2025 to complete this project.

“The facility will be located at EMC Maheeshwaram, Telangana on leasehold premises owned by TGIIC (Telangana Industrial Infrastructure Corporation). The project is expected to be completed by March 2025. This 1 GW TOPCon Module facility is an addition to the planned manufacturing capacity outlined in the offer document,” the company said in a statement. 

Trading Window Closed 

On account of this new decision, the firm said that it will keep its trading window closed from December 13 to December 15. The trading window for the firm will now open next Monday. The latest announcements come at a time when the company has already planned expansion of its solar module manufacturing capacity and solar cell capacity. It also has plans to foray into the production of ingots and wafers.

About Premier Energies 

Premier Energies is one of the early adopters of solar cell manufacturing in the country. It recently entered into the Indian stock market to raise public funds to augment its manufacturing capacities.

The company started its journey in 1995. It started its solar module business in 1999 and established its solar cell line in 2011. It has now planned to start production of TOPCOn solar cells with public funding. The firm is also into the EPC business. The company has most of its manufacturing units in Telangana. In the latest investor presentation, the firm said that it had 4.13 GW of solar module production capacity and 2 GW of solar cell manufacturing. Currently, it has been producing mono-PERC solar cells.