Premier Energies Company to Spend ₹11,000 Crore to Make More Solar Panels

Premier Energies has announced a massive ₹11,000 crore investment to significantly increase its production of solar equipment. The company plans to more than double its current manufacturing capacity for solar cells and modules to meet the rising demand for clean energy in India and overseas. This expansion will see the company’s annual solar cell production jump from 3.2 gigawatts (GW) to 10.6 GW, while its solar module output will grow from 5.1 GW to 11.1 GW. The project includes building new facilities in Andhra Pradesh and Telangana to strengthen India’s position in the global renewable energy market.

According to company officials, the expansion is a strategic move to become one of the world’s largest integrated manufacturers of solar equipment outside of China. Beyond just making solar panels, Premier Energies is looking to start producing the base materials, known as ingots and wafers, which are essential components used to build solar cells. This “backward integration” strategy is designed to make the company’s production process more independent and less reliant on imported raw materials. Currently, the firm operates four manufacturing units near Hyderabad, but the new roadmap involves adding 7.4 GW of cell capacity in Andhra Pradesh and an additional 6 GW of module capacity in Telangana.

The massive financial requirement for this project will be covered through a mix of different funding sources. Approximately ₹1,300 crore will come from the money raised during the company’s initial public offering (IPO) last year. Another ₹2,200 crore has been secured as a loan from the state-owned Indian Renewable Energy Development Agency (IREDA), with the remaining balance being funded through the company’s own internal profits. This financial backing is supported by a very strong business outlook; the company currently has an order book worth ₹13,000 crore in the domestic market alone, ensuring that its production lines are booked for at least the next year.

This growth plan aligns with the Indian government’s “Make in India” initiative and the Approved List of Models and Manufacturers (ALMM) framework, which encourages local production to reduce dependence on foreign imports. By expanding its operations and entering the manufacturing of core components like wafers, Premier Energies aims to support India’s goal of becoming self-sufficient in green energy. The company also continues to eye the international market, having previously exported solar cells to the United States, further proving the global competitiveness of Indian-made renewable technology.