Wednesday, Dec 8 2021 | Time 08:47 Hrs(IST)
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Business Economy


Premier Energies raises INR 200 cr Pvt Equity to triple capacity by 2023

Hyderabad, Sep 24 (UNI) Premier Energies, one of India’s leading Solar PV Cells & Module manufacturing company, on Friday announced a Private Equity investment of Rs 200 crores in the company by GEF Capital Partners, a global private equity manager focused on investing in climate solutions.
In a release, the company said the fund will be used as growth capital to enhance its solar PV cell and module manufacturing capacity.
Centrum Capital Limited was the exclusive advisor to Premier Energies on this transaction.
The Company will invest the equity capital to consolidate their presence as a leading integrated solar cell and module manufacturer by adding additional capacity of 2 GW cell manufacturing and 2 GW of module manufacturing based on the latest Monocrystalline PERC technology along with a planned investment of over Rs. 1200 Crores over the next 2 years.
Surender Pal Singh, Founder and Chairman, Premier Energies, said “We are excited to have a credible partner like GEF Capital on board and the timing of investment is critical for us to capitalise the huge growth potential presented by the industry.
Chiranjeev Saluja, Managing Director, said “I am confident about meeting the growth expectations of our stakeholders, and at the same time we will continue to strive to improvise on sustainable sources of Clean Energy.”
Sridhar Narayan, a founder of GEF Capital and Managing Partner of the South Asia investment program, said GEF Capital is proud to partner with Premier Energies to build a world class solar manufacturing business. Based in Hyderabad, Premier Energies is currently the second largest integrated solar photovoltaic cell and module manufacturer in India and has completed 25 years of operations in 2020.
In July, 2021 Premier Energies unveiled their new state-of-the-art facility at E-City Hyderabad with a capacity of 750 MW solar cell and 750 MW solar module that produces MCCE textured multi-crystalline cells and modules, Mono PERC cells and modules as well as polycrystalline cells and modules, he added..
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