Premier Energies To Set Up 1 GW Solar Manufacturing Facility At EMC Maheshwaram
Hyderabad, Dec 23 (Maxim News): In a major boost to the local supply chain for solar-related components, Premier Energies Global Environment Limited (PEGL), a subsidiary of Premier Energies, has announced plans to establish a 1 GW solar module manufacturing facility at the Electronics Manufacturing Clusters (EMC) Maheshwaram industrial zone in the city outskirts.
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The project is expected to be operational by March 2025. The facility will operate on leasehold premises owned by the Telangana Industrial Infrastructure Corporation (TGIIC), Premier Energies is an integrated solar cell and solar module manufacturing company. Backed by GEF Capital, a Washington DC-based Private Equity Investor, premier Energies is at the forefront of innovative technology, crafting high-tech photovoltaic products and solutions.
This initiative is part of Premier Energies’ strategy to enhance its tunnel oxide passivated contact (TOPCon) module manufacturing capabilities to meet the growing demand for high-efficiency solar modules.
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Market sources said the establishment of a 1 GW facility is likely to create numerous job opportunities in the region, both directly in manufacturing roles and indirectly through supply chain and support services, boosting the local economy. This facility could encourage the development of a robust local supply chain for solar-related components, including cells, inverters, and mounting structures, fostering economic growth and innovation in related industries, the sources added.
Solar panel suppliers believe that once the facility becomes operational, the supply of solar components will improve and there are chances of people getting them at cheaper rates. Currently, a majority of the solar components are being procured from other States, making it costlier, they added.
Premier Energies ‘ manufacturing units are spread across three locations in Telangana, totaling an aggregate land area of over 44.91 acres. As of March 31, 2024, the company boasts an annual production capacity of 2GW for solar cells and 3.36 GW for solar modules. Additionally, another Topeon Cell line and module line, covering a combined land area of 75 acres, are currently under development. These new facilities are projected to have cell and Module Facilities. (Maxim News)
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