Advertisement
Monday, Oct 18, 2021
Outlook.com
Outlook.com

Premier Energies Mops Up Rs 200 Crore in Funding From GEF Capital Partners

The company will invest the equity capital to consolidate its presence as a leading integrated solar cell and module manufacturer by adding a capacity of 2 GW cell manufacturing.

Premier Energies Mops Up Rs 200 Crore in Funding From GEF Capital Partners
Premier Energies Mops Up Rs 200 Crore in Funding From GEF Capital Partners
outlookindia.com
2021-09-24T14:09:41+05:30

Leading solar PV cells and module manufacturers Premier Energies said it has raised Rs 200 crore in private equity investment from GEF Capital Partners a global private equity manager focused on investing in climate solutions.

The Hyderabad-based company said in a statement that it will use the funds to enhance its solar PV cell and module manufacturing capacity.

The company will invest the equity capital to consolidate its presence as a leading integrated solar cell and module manufacturer by adding a capacity of 2 GW cell manufacturing and 2 GW of module manufacturing, along with a planned investment of over Rs 1,200 crore over the next two years.

Chiranjeev Saluja, Founder and Managing Director at Premier Energies, said, “I am confident about meeting the growth expectations of our stakeholders, and at the same time will continue to strive to improvise on sustainable sources of clean energy.”

Currently, Premier Energies is the second largest integrated solar photovoltaic cell and module manufacturer in India and has completed 25 years of operations in 2020.

 In July this year, Premier Energies unveiled their new state-of-the-art facility at E-City Hyderabad.

(With inputs from PTI)

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Kashmir Civilian Killings: Militants Gun Down Two More Migrant Labourers In Kulgam

Kashmir Civilian Killings: Militants Gun Down Two More Migrant Labourers In Kulgam

A day after two non-local cart vendors were shot dead in Kashmir, militants struck again today killing two more non-local labourers in the southern district of Kulgam.

Kerala Rains: 23 Killed In Flash Floods And Landslides, PM Modi Speaks To CM Vijayan

Kerala Rains: 23 Killed In Flash Floods And Landslides, PM Modi Speaks To CM Vijayan

The toll from disastrous flooding caused by heavy rains and landslides in hilly areas of two central Kerala districts rose to 23 as rescue workers recovered more bodies from the rubbles on Sunday.

Yuvraj Arrested In Chahal 'Casteist Remarks' Case, Released On Bail

Yuvraj Arrested In Chahal 'Casteist Remarks' Case, Released On Bail

'Yuvraj Singh came to Hansi on Saturday and we made a formal arrest. He was released on bail bond after a few hours,' DSP (Hansi) Vinod Shankar said.

Komic, World's Highest Motorable Village In Himachal, Gets Season’s First Snowfall

Komic, World's Highest Motorable Village In Himachal, Gets Season’s First Snowfall

Tourists and travellers have been asked not to venture towards the Kunzum Pass in Himachal Pradesh with snowfall being reported in several parts of the state including Rohtang Pass.

Advertisement