Telangana: Premier Energies to Boost Local Economy with New Investment Plans
Premier Energies, a 30-year-old company with its headquarters and primary operations in Telangana, has outlined substantial investment plans to expand its renewable energy footprint across India.
Hyderabad: Premier Energies, a 30-year-old company with its headquarters and primary operations in Telangana, has outlined substantial investment plans to expand its renewable energy footprint across India.
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The company, renowned for its operational capacity of 2GW Solar Cell and 4.1 GW Solar Module manufacturing facilities in Telangana, continues to demonstrate strong growth in the solar energy sector.
Current Operations and Workforce in Telangana
Premier Energies currently operates a massive 2GW Solar Cell and 4.1GW Solar Module manufacturing facility in Telangana, with a workforce of approximately 5,000 employees at its various facilities. The company initially set out with plans for a 4GW Cell and Module manufacturing facility in the region, with an investment of around INR 3000 crore and potential employment for 5,000 people.
Strategic Shift and Geographical Diversification
As the renewable energy market continues to grow, Premier Energies has recognized the importance of geographical diversification. To meet evolving market demands, the company has decided to integrate backward into Ingot and Wafer production, along with the addition of Solar Aluminum Frames Extrusion, and capacity expansion in its existing Cell and Module facilities.
To accommodate these changes, the company has shifted some of its investments strategically while continuing to focus on Telangana. In addition to the existing facilities, Premier Energies plans further investments across Telangana, Andhra Pradesh, and Madhya Pradesh. The Telangana government has been extremely supportive of the company’s expansion, assisting with land allocations and supporting national “Make in India” initiatives.
Key Support from Telangana Government
Premier Energies had initially been allocated 75 acres at Seetharampur Industrial Park (IP). In recognition of the company’s growing investment plans, the Telangana Government has extended their support by signing an MOU for 125 acres of land. This move reinforces the company’s commitment to Telangana and further highlights the government’s proactive role in facilitating growth in the renewable energy sector.
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Expansion of Solar Cell and Module Production
In 2024, Premier Energies announced a major expansion of its solar production capabilities with an investment of INR 800 crores. This expansion includes the addition of 1 GW Solar Cell Line and 1 GW Solar Module Line. The new plants, which are currently under construction, are expected to be commissioned by Q1 FY 2025-2026. This expansion will create an additional 1,500 jobs in Telangana, showcasing the company’s commitment to boosting employment and driving growth in the region.
The Telangana Government also supported the company by leasing a preconstructed facility at Maheshwaram Industrial Park (IP), helping to fast-track the project. This new plant has been built in a record time of 9 months, further emphasizing the strong partnership between Premier Energies and the state government.
Future Expansion Plans in Andhra Pradesh and Madhya Pradesh
In light of geographic diversification and proximity to ports, Premier Energies has decided to relocate part of its expansion plans to Andhra Pradesh. Specifically, the 4GW Cell Line will be established in the state to benefit from the region’s proximity to key import hubs, reducing costs and improving logistics for raw materials.
Additionally, Premier Energies has been allocated 50 acres of land near Bhopal, Madhya Pradesh, by MPIDC (Madhya Pradesh Industrial Development Corporation) for future expansions. This facility is aimed at catering to the markets in Madhya Pradesh, Rajasthan, and Gujarat, further solidifying Premier Energies’ nationwide expansion strategy.
