Premier Energies Forms Two Strategic JVs to Boost Solar Manufacturing

Premier Energies Limited (PEL), a leading player in India's renewable energy sector, has announced two significant joint ventures aimed at enhancing its solar manufacturing capabilities. These ventures align with the company’s growth strategy to vertically integrate operations and support the Make-in-India initiative.

JV with Nuevosol Energy for Aluminium Frame Manufacturing

In a major move towards strengthening its backward integration, Premier Energies has entered into a joint venture agreement with Nuevosol Energy Private Limited to establish a new entity, Premier-Green Aluminium Private Limited. This new joint venture company will focus on the manufacturing of aluminium frames used in solar photovoltaic modules.

• Shareholding Pattern: PEL will hold 80% equity in the JV, while Nuevosol will hold the remaining 20%.
• Scope of Business: The joint venture will engage in foundry and extrusion operations to produce high-quality aluminium frames, crucial components in solar module assembly.
• Facility Details: A state-of-the-art manufacturing facility is planned to cater to both domestic and captive requirements, ensuring control over quality and supply chain efficiency.
• Governance: The Board of Directors will comprise five members, with four appointed by PEL and one by Nuevosol.

This collaboration is expected to bring technological synergy and improve product reliability by localising a key module component.

JV with Taiwan-Based SAS for Solar Silicon Wafers

Premier Energies has also announced a second joint venture with Sino-American Silicon Products Inc (SAS), a reputed Taiwanese solar technology firm. The new company, Premier Energies GWC Private Limited, will focus on the manufacturing and sale of solar silicon wafers, a critical raw material in solar cell production.

• Shareholding Pattern: PEL will hold 74% of equity, and SAS will hold the remaining 26%.
• Business Objective: The JV aims to manufacture solar-grade silicon wafers to meet increasing demand in the Indian and global solar market.
• Strategic Significance: This venture is seen as a pivotal step in technology transfer and capability building, enabling Premier Energies to scale its production of upstream components in the solar value chain.

Strategic Importance of the Joint Ventures

These JVs serve multiple strategic purposes for Premier Energies:

• Supply Chain Integration: By producing key module components in-house, PEL can ensure greater control over quality and timelines.
• Cost Efficiency: Localised manufacturing of frames and wafers will reduce import dependence and improve overall cost competitiveness.
• Technological Advancement: The SAS partnership brings in advanced know-how from Taiwan, aiding capability development in solar wafer production.
• Make-in-India Initiative: Both ventures support the government’s mission to boost domestic manufacturing in the renewable sector.

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Conclusion

Through these joint ventures with Nuevosol and SAS, Premier Energies is solidifying its position in the Indian solar manufacturing ecosystem. The aluminium frame JV strengthens backward integration, while the wafer JV enables technological enhancement and upstream expansion.

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