Premier Energies Shares Gain Over 2% Amidst Major Solar PV Orders: All You Need to Know

Premier Energies Ltd. recently announced that 3 of its subsidiaries — Premier Energies Global Environment, Premier Energies International, and Premier Energies Photovoltaic — have secured multiple orders totalling ₹1,460 crore. These orders, awarded by two large independent power producers (IPPs) and other customers, cover ₹1,041 crore for solar modules and ₹419 crore for solar cells.

The supply of these products is set to commence in May 2025, reflecting the company’s commitment to meeting growing demand in the renewable energy sector.

New Manufacturing Facility in Telangana

Premier Energies is not just expanding its order book but also its manufacturing capabilities. The company’s board recently approved the establishment of a 1 GW solar photovoltaic TOPCon Module manufacturing facility in EMC Maheshwaram, Telangana.

This facility, expected to be operational by March 2025, will be located on premises leased from the Telangana Industrial Infrastructure Corporation. It is an additional capacity expansion beyond what was outlined in the company’s Red Herring Prospectus (RHP).

However, the company has not disclosed the capital expenditure (capex) required for this project or the funding plans.

Earlier Orders in November 2024

This isn’t the first time Premier Energies has bagged substantial orders. In November 2024, the company’s subsidiaries received multiple orders worth ₹1,087 crore. Of this, ₹964 crore was for solar modules and ₹123 crore for solar cells, reflecting a strong and consistent demand for the company’s products.

Share Price Performance

As of 9:34 AM on January 15, 2025, Premier Energies’ share price has gained over 2% following the announcement of these orders. Despite this uptick, the stock has seen a decline of 15% in January 2025 so far.

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