Premier Energies shares jump 3% after subsidiaries bag multiple order wins

Premium Energies bags multiple order wins; shares come into focus

Premier Energies Ltd. shares gained 3 percent in early trade on January 15 after the company announced that its three subsidiaries have received multiple orders worth Rs 1,460 crore for the supply of solar PV cells and modules.

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The subsidiaries, namely Premier Energies Global Environment, Premier Energies International and Premier Energies Photovoltaic, have received orders from two large independent power producers and others. The orders comprise Rs 1,041 crore worth of solar modules and Rs 419 crore worth of solar cells.

As per an exchange filing, the supply of the modules and cells is set to begin from May 2025.

Earlier in December, the company's board had approved the establishment of a 1 GW solar photovoltaic TOPCon Module manufacturing facility in EMC Maheeshwaram, Telangana. This is to be established on leasehold premises owned by the Telangana Industrial Infrastructure Corporation and is likely to be completed by March 2025. It is an addition to the planned manufacturing capacity as mentioned in the Red Herring Prospectus of Premier Energies.

The month of November, last year, saw the company's subsidiaries receiving multiple orders with an overall value reaching Rs 1,087 crore. The orders include two large Independent Power Producers (IPPs) and one other customer. The orders comprised solar modules worth Rs 964 crore and solar cells worth Rs 123 crore.