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Premier Energies Future Plans Revealed
Premier Energies Company was founded in April 1995. It is an integrated solar cell and solar panel manufacturing company. It is the second largest manufacturing company in the country in terms of solar cells and solar modules.
About Premier Energies Share.
Premier Energies Company was founded in April 1995. It is an integrated solar cell and solar panel manufacturing company. It is the second largest manufacturing company in the country in terms of solar cells and solar modules. There are many products in its portfolio. And whose names you can see. Products like cell, solar module, mono facial module, bifacial module, EPC solution are included. And its customers include many prestigious customers like NTPC, Tata Power Solar System, Shakti Pump Luminos. Now if we talk about its IPO issue. The issue opened on 27 August 2024 and closed on 29 August 2024. The closing price was 427-450. The lot size was kept at 33 shares. The issue was of 1290 crores. The offer for sale was 1540 crores. That is, the total issue size is 2830 crores and the market cap of the company is around 20300 crores.
Future plans of Premier Energies.
Premier Energies Company This company was started in 1995 by the company’s chairman Surendra Pathak Singh Saluja with this vision, at that time it was thought that in future solar will play a very important role in the energy mix. Therefore, the company started module manufacturing 25 years ago and solar cell manufacturing 14 years ago. Therefore, this company manufactures solar cells and solar modules and sells its solar cells in India. India’s Premier Energies also sells to module companies in America. This company is the largest exporter of solar cells to America. Module companies in America use our cells and manufacture modules there. Solar plants have been installed in America. So today we have 2 GW of operational cell manufacturing plant and about 4 GW of module line. So this company manufactures solar cells.
Premier Energies also manufactures panels. It sells panels to different customers who generate electricity. For example, if there is an integrator who is installing solar rooftops in homes, he is a customer of the integrator company. This company makes models for Panasonic, Tata, different companies. The company supplies cells to big developers and gives panels. For example, they set up 200-300 MW power plants in Rajasthan and Gujarat. So Premier Energy’s work is limited to supplying panels.
Premier Energies: A Leading Player in India's Solar Revolution
In recent years, the Indian government has significantly supported the renewable energy sector, particularly solar energy, to boost domestic manufacturing and reduce dependence on foreign sources. Premier Energies has emerged as a key player in this transformation, contributing to India’s solar manufacturing growth. The company’s stronghold in the solar cell and module manufacturing sector has positioned it as the second-largest solar manufacturer in the country.
With the increasing focus on renewable energy, the solar sector is witnessing unprecedented growth. Today, solar power is the most cost-effective energy source, and its demand is surging. India alone is expected to consume around 25 to 35 gigawatts of solar energy this year, with the U.S. market also showing immense demand. As the world transitions towards electric vehicles (EVs) and green hydrogen, solar energy will play a crucial role in shaping the future of global energy consumption. Premier Energies is strategically positioned to capitalize on this growing demand, strengthening its presence both in India and international markets.
The Indian government’s initiatives, such as the Pradhan Mantri Surya Ghar Free Electricity Scheme, are further driving solar adoption. This scheme allows homeowners to install solar power systems up to 3 kW with government support, making solar energy more accessible. The streamlined process and national portal have simplified installations, creating new business opportunities for companies like Premier Energies. With India’s manufacturing sector, including module and cell manufacturers, receiving strong policy backing, the future of solar energy looks brighter than ever
Premier Energies: Why do you need money?
So, our IPO raising is part of the primary raising of Rs 1291 crore. This money we are getting for 4 GW green field. Today our capacity is 2 GVA cell, 4 GVA module and 4 GVA cell and 4 GVA module. This green field project is using the latest technology, top corn technology. The total capital cost of this project is 3400 crore. Out of this 1200 crore will be the balance amount from the primary raised amount. We have taken a loan from Indian Atomic Energy Development Agency (REDA). This project will add 4 GVA cell model to our portfolio. So that will make the total capacity 7 GVA cell and 8 GVA module.
The last few years have been a turning point for Premier Energies, as the company has seen remarkable financial growth. Revenues have grown almost three to four times from ₹750 crore, while profits have grown to ₹3100 crore. The company, which was once incurring losses of ₹13-14 crore, has now turned profitable, recording revenues of ₹200 crore. This turnaround is a direct result of the strategic expansion of its solar cell manufacturing capacity. Cell manufacturing is a highly complex, technology-driven process that requires significant time for installation and stabilization. Premier Energies took a major step in 2021 by increasing its capacity from a mere 75 MW to 750 MW. Given the challenges of COVID-19, it took additional time to stabilize the production lines. However, once operations were fully streamlined, the company expanded its capacity by an additional 1250 MW, taking the total capacity to 2 GW today. This transformation underscores the importance of long-term planning and investing in advanced solar technology. Now that the production lines are operational and stable, Premier Energies is well positioned to capitalize on the growing demand for solar power, further strengthening its role as a leader in India’s renewable energy sector.