By PTI | New Delhi
Expanding its portfolio of renewable energy (RE) business, Premier Energies on Friday announced a foray into solar inverter segment acquiring 100 per cent stake of KSolare Energy for Rs 170 crore in a joint venture partnership.
In a statement, the company said it has entered into definitive agreements with Syrma SGS Technology to acquire the entire ownership of KSolare Energy in the ratio of 51:49 per cent.
The announcement follows Premier Energies’ entry into transformer manufacturing by acquiring a majority 51 per cent stake in Transcon Industries for a total consideration of Rs 500.3 crore on Thursday.
The acquisition is a key milestone in its strategy to become a fully-integrated clean energy solutions provider, Premier Energies said in a statement.
The renewable energy player said it has entered into definitive agreements to acquire a 51 per cent ownership interest in Transcon Industries for a total consideration of Rs 500.3 crore.
Established in 1995, Premier Energies is an integrated solar cell and solar module manufacturing company. Backed by GEF Capital, a Washington DC based Private Equity Investor, Premier Energies is at the forefront of innovative technology, crafting photovoltaic products and solutions.
The company’s manufacturing units are spread across three locations in Telangana, totalling an aggregate land area of over 44.91 acres. As of 31st March, 2024, the company boasts an annual production capacity of 3.2 GW for solar cells and 6 GW for solar modules.
Additionally, another Topcon Cell line and module line, covering a combined land area of 75 acres, are currently under development. These new facilities are projected to have Cell and Module Facility.
Equipped with fully automated mono perc cell line with an annual production capacity of 3.2 GW, along with module lines capable of producing 6.8 GW, Premier Energies manufactures solar cells of M10 wafer size, achieving an average cell efficiency of 23.2%.
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