Premier Energies Ltd was originally incorporated as a Private Limited Company with the name 'Premier Solar Systems Private Limited' at Hyderabad, India, dated April 3, 1995, issued by the Registrar of Companies, Andhra Pradesh. The name of Company got changed to 'Premier Energies Private Limited' through a fresh Certificate dated August 6, 2019 issued by the RoC. Upon its conversion into a Public Limited Company, the Company name was changed to 'Premier Energies Limited' and a fresh Certificate of Incorporation dated September 25, 2019 was issued by the RoC.
The Company is India's second largest integrated solar cell and module manufacturer as well as India's second largest solar cell manufacturer in terms of annual installed capacity with 2 GW for cells and 3.36 GW for modules. It has presence in other steps along the solar power value chain such as providing engineering, procurement and construction (EPC) solutions, operating and maintenance (O&M) services and being an independent power producer (IPP). It has five manufacturing facilities in Hyderabad, Telangana.
The business operations include (i) the manufacturing of solar photovoltaic (PV) cells, (ii) the manufacturing of solar modules including custom made panels for specific applications, (iii) the execution of EPC projects, (iv) independent power production, (v) O&M services with respect to EPC projects executed by Company and (vi) the sale of other solar-related products.
The Company in year 2011, established a solar cell manufacturing line with an annual capacity of 75 MW and a solar module line with an annual capacity of 100 MW in Unit I. It expanded the installed capacity of the solar manufacturing line in Unit I by 370 MW in 2017. It established a fully integrated 500 MW capacity solar cell line and a 750 MW capacity solar module line in Unit II in 2021.
The Company expanded the installed capacity of the solar cell and module lines in Unit II by 250 MW and 150 MW, respectively in 2022. In 2023, it further established a line in Solar Cell Unit III with 1,250 MW annual capacity; established a solar module line in Unit IV with an annual capacity of 1,600 MW and expanded solar module line in Unit II installed capacity by 500 MW. In 2024, it established Unit V Solar Modular Line with an annual capacity of 100 MW.
The Company is proposing the Initial Public Offer by raising funds Rs 1500 Crores through Fresh Issue and by issuing 28,200,000 Equity Shares thru' Offer for Sale.