New 400 MW solar cell units boost Premier Energies’ manufacturing base

Premier Energies has brought a new 400MW solar cell manufacturing facility into operation at Maheshwaram in Telangana.The newly commissioned plant will manufacture solar cells based on mono passivated emitter and rear cell (PERC) technology. With the site now operational, the Hyderabad-headquartered manufacturer has lifted its total solar cell capacity from 3.2GW to 3.6GW.

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Funding for the expansion has been drawn from multiple sources. These include proceeds of approximately INR13 billion (USD141 million) raised through the company’s initial public offering last year, alongside an INR 22 billion (USD 240 million) loan facility arranged with the state-owned Indian Renewable Energy Development Agency (IREDA). Additional capital has been sourced internally, the company said.

The commissioning forms part of a broader manufacturing expansion strategy aimed at addressing growing domestic demand for solar equipment. Premier Energies, however, is making significant efforts to double its annual output in the coming years, targeting solar cell capacity of 10.6GW and module capacity of 11.1GW once the expansion programme is complete.

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The company expects to invest close to INR11 billion ( USD 12 million) over the next two years to reinforce this growth. At present, Premier Energies operates 5.1GW of solar module manufacturing capacity across multiple facilities in Hyderabad, situated roughly 50 kilometres from the Maheshwaram solar cell plant.

Beyond cells and modules, the company is focused on building an end-to-end integrated manufacturing platform, including ingots, cells, wafers, and modules, with a long-term target of 10GW across the value chain. Premier is also making expansion efforts in the adjacent segments, like battery energy storage systems and inverter manufacturing.

In the near term, the firm plans to significantly increase output, with cell capacity expected to reach 8.4GW and module capacity 11.1GW by June this year.

The expansion follows a recent boost to Premier’s order book. The company disclosed in a stock exchange filing that it has secured solar cell and module supply contracts valued at more than INR23 billion (USD255 million). These orders were from the domestic market, including independent power producers, with deliveries scheduled across 2027 and 2028.

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