Premier Energies unlocks new deal with Nuevosol, aims to build a 36,000 MT aluminium extrusion facility in India
Premier Energies, a fully integrated manufacturer of solar cells and modules, has unlocked two significant joint venture agreements (JV). The agreements unlock significant potential in the solar manufacturing industry.
The first one signed with Hyderabad-based Nuevosol Energy Pvt. Ltd., a leading producer of solar PV mounting structures aims to manufacture aluminium-based solar module frames and other value-added components essential to solar module production. Under the agreement, Premier Energies will hold a majority stake in the venture.
The JV plans to establish a 36,000 MT per year aluminium extrusion and anodising facility in Seetharampuram, Telangana, to support Premier Energies' solar manufacturing ecosystem. Commercial operations are slated to commence in FY 2027.
A 74:26 joint venture
The second agreement is a 74:26 joint venture with Taiwan-based Sino-American Silicon Products (SAS) to establish solar wafer manufacturing capabilities. The India-based company signed another significant agreement with Hyderabad-based Nuevosol Energy Pvt. Ltd., a leading producer of solar PV mounting structures.
The joint venture (JV) will set up a manufacturing facility in India with an annual capacity of 2 GW. The plant will focus on slicing polysilicon ingots into silicon wafers, which will be used to produce photovoltaic cells and modules.
A 74:26 joint venture agreement is a business arrangement between two parties, where one party holds a 74 per cent ownership stake and the other holds 26 per cent. Doris Hsu, Chairperson and Chief Executive Officer (CEO) of Sino-American Silicon Products Inc. and GlobalWafers Co., Ltd., remarked that this collaboration marks a significant milestone in India's strategic expansion.
On the occasion of signing the JV agreement, Chiranjeev Saluja, Managing Director of Premier Energies, commented, "This agreement marks the start of our backwards integration into solar wafers. We are excited to partner with SAS to produce high-quality solar wafers to increase the share of local manufacturing in the solar value chain. The JV will play a pivotal role in strengthening the Make-in-India policy initiative of the Indian government"
Aim of the partnership
Through this partnership, SAS and Premier Energies aim to strengthen a vital solar supply chain segment that caters to domestic and international markets. Additionally, the venture is expected to enhance operational resilience while capitalising on the growing demand in the Indian solar sector.
Not only has this, the India-based solar-cells and modules manufacturer, also entered into a joint venture agreement (JV) with Hyderabad-based Nuevosol Energy Pvt. Ltd., a leading producer of solar PV mounting structures. This strategic partnership aims to manufacture aluminium-based solar module frames and other value-added components essential to solar module production. Under the agreement, Premier Energies will hold a majority stake in the venture.
As one of the few established cell and module manufacturers in India, this initiative further strengthens its position in the sector. With the government set to launch the ALCM (Advanced Chemistry Cell Manufacturing) scheme for cell production next year, it's highly anticipated that a similar focus will soon extend to solar wafer and polysilicon/ingot manufacturing, in a bid to localise solar production fully.
These segments, however, pose significant challenges due to their high capital requirements and the need for specialised technical expertise. By entering this space early, after stabilising its cell manufacturing operations and boosting profit margins, Premier Energies is strategically positioning itself for a competitive edge in India's evolving solar landscape.
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