Premier Energies to establish 1 GW Solar module manufacturing plant in Telangana – CNBC TV18

Newly listed Premier Energies Ltd. has announced that its board has approved the establishment of a 1 GW solar module manufacturing plant.

The board on Friday, December 13, said that the company will establish a 1 GW solar photovoltaic TOPCon Module manufacturing facility in EMC Maheeshwaram, Telangana.

The facility will be established on leasehold premises owned by the Telangana Industrial Infrastructure Corporation and is likely to be completed by March 2025.

This 1 GW TOPCon Module facility is in addition to the planned manufacturing capacity that Premier Energies highlighted in its Red Herring Prospectus (RHP).

However, the company has not specified the amount of capex that would be required for setting up this facility and how will the company be funding the same.

Shares of Premier Energies are off the lows of the day but are still trading 1.3% lower at ₹1,289.8. The stock has nearly tripled from its IPO price of ₹450 within a few months of its listing.