₹800 Crore Bet: Premier Energies' Solar & Storage Power Play

Telangana-based Premier Energies has announced an ambitious expansion plan to double its solar manufacturing capacity to 8.4 GW for solar cells and 10 GW for modules within the next year. As part of its broader growth strategy, the company will also diversify into battery storage and inverter manufacturing, backed by an investment of ₹800 crore.

Vinay Rustagi, Chief Business Officer, noted that approximately 90% of the capital expenditure will be allocated to backward integration, including the establishment of ingot and wafer manufacturing facilities. He emphasized that India added 24 GW of solar capacity last year—a figure projected to more than double over the next five years.

The expansion will be primarily funded through internal accruals, with a cautious approach to debt. With ₹2,000 crore in cash reserves, Premier Energies is positioning itself for long-term sustainable growth. The company sees rising demand driven by falling battery costs and supportive government policies, with applications spanning residential, agricultural, green hydrogen, and export markets.

News by Rahul Yelligetti.