Premier Energies Ltd on 13 December announced that the Board of Directors of the company have approved establishing a 1 gigawatt (GW) solar module manufacturing plant. 

The board announced on Friday, 13 December, that the company will set up a 1 GW solar photovoltaic TOPCon Module manufacturing facility at EMC Maheeshwaram in Telangana.

The facility will be built on leasehold land owned by the Telangana Industrial Infrastructure Corporation, is expected to be operational by March 2025.

This new 1 GW TOPCon Module plant is an addition to the manufacturing capacity outlined in Premier Energies’ Red Herring Prospectus (RHP). However, the company has not disclosed the capital expenditure required for this project or the funding plan.

Shares of Premier Energies have rebounded slightly from earlier lows but remain 1.3% down at Rs 1,289.8. The stock has seen remarkable growth, nearly tripling from its IPO price of Rs 450 within a few months of listing.

Tired of missing hot stocks? Unicorn Signals provides powerful tools like stock scans and more help you make informed trading decisions. Download now and take control of your portfolio!