Premier Energies, a prominent player in the renewable energy sector, has revealed its plans for further investment and expansion. The company, based in Telangana, has been operational for over 30 years, with a solar cell capacity of 2GW and a solar module manufacturing capacity of 4.1GW. Currently employing around 5,000 people at its Telangana facilities, the company is now setting its sights on broader growth.
Initially, Premier Energies planned a 4GW solar cell and module facility in Telangana, with an estimated investment of ₹3,000 crore and an expected 5,000 new jobs. However, with the increasing demand in the renewable energy sector, the company recognized the need for geographical diversification and additional backward integration into ingots, wafers, and solar aluminum frames extrusion. As a result, Premier Energies has adjusted its investment strategy and plans to further expand operations in Telangana, Andhra Pradesh, and Madhya Pradesh.
The Telangana government has consistently supported Premier Energies, both in the past and currently, with a focus on the “Make in India” initiative. Originally allocated 75 acres in Seetharampur Industrial Park, the company and the Telangana government have now signed an agreement for 125 acres to accommodate the growing investment plans. This move underscores Premier Energies’ commitment to the state and the strong backing from the Telangana government.
Premier Energies also plans to expand its operations with a 1GW solar cell line and 1GW solar module line, investing ₹800 crore in 2024. This new development is currently in its final stages of construction and is expected to be commissioned by Q1 FY2025-2026, creating an additional 1,500 jobs. The Telangana government has expedited the construction process by providing a pre-built facility in Maheshwaram Industrial Park, which was completed in a record 9 months.
In addition to the projects in Telangana, Premier Energies is also diversifying its operations for strategic reasons. The company has decided to relocate part of its 4GW solar cell expansion to Andhra Pradesh due to the state’s proximity to ports, facilitating the import of raw materials. The company has been allocated 50 acres of land near Bhopal by the Madhya Pradesh Industrial Development Corporation (MPIDC) for future expansions. This new site will cater to the growing demand in Madhya Pradesh, Rajasthan, and Gujarat.
With continued support from both state and central governments, Premier Energies is poised for significant growth in the coming years, further solidifying its position as a leader in the renewable energy industry. Premier Energies Ltd. is a leading renewable energy company specializing in the manufacturing of solar photovoltaic (PV) cells and modules. Headquartered in Hyderabad, India, the company is known for its cutting-edge production facilities and commitment to sustainable energy solutions.
With a strong focus on innovation, Premier Energies has expanded its product portfolio to include advanced technologies like TOPCon modules, catering to the increasing global demand for high-efficiency solar products. Over the years, the company has established itself as a key player in the renewable energy sector, contributing significantly to India’s solar energy capacity and driving the country’s transition towards cleaner energy sources. Its robust infrastructure and forward-looking strategies position it as a reliable partner in the global push for sustainability.
