Hyderabad-based Premier Energies Ltd. has secured a major contract worth ₹1,234 crore to supply solar photovoltaic (PV) modules, the company announced on Friday, February 14. The order was awarded to its subsidiary, Premier Energies Photovoltaic, and involves fulfilling demand from existing clients.
The supply of solar modules is set to commence in April 2025. Premier Energies, a key player in the solar energy sector, is known for producing solar PV cells and modules, offering customized solutions for diverse applications.
The company has also reported impressive financial results for the third quarter of FY25. Its consolidated net profit soared by 490.51%, reaching ₹255.22 crore, up from ₹43.22 crore in the same period the previous year. Revenue from operations also witnessed a substantial 140.47% year-on-year increase, climbing to ₹1,713.32 crore for the quarter ending December 31, 2024.
In line with its growth strategy, Premier Energies plans to significantly expand its production capacity. Over the next two years, the company aims to increase its solar cell manufacturing capacity from 2GW to 7GW and its module production capacity from 3GW to 8GW. This expansion is projected to boost earnings at a compound annual growth rate (CAGR) of 90% between FY24 and FY27.
Premier Energies’ product range includes solar cells, monofacial and bifacial solar modules, as well as EPC (Engineering, Procurement, and Construction) and O&M (Operations and Maintenance) services. The company’s latest contract and expansion plans underscore its commitment to strengthening its position in the renewable energy market.
