Shares of Premier Energies Ltd shot up 5% on Wednesday, 15 January, after three company’s subsidiaries announced receiving orders totalling Rs 1,460 crore for supplying solar PV cells and modules. 

In its regulatory filing, the company said that its subsidiaries, Premier Energies Photovoltaic, Premier Energies International, and Premier Energies Global Environment, have received orders from two large independent power producers (IPPs) and orders. The order is to supply solar modules worth Rs 1,041 crore and solar cells worth Rs 419 crore. 

The supply of these solar modules and cells will commence in May 2025.

In December, the company’s board approved the setup of a 1 GW solar photovoltaic TOPCon Module manufacturing facility in EMC Maheeshwaram, Telangana. 

The facility, to be established on leasehold premises owned by the Telangana Industrial Infrastructure Corporation, is expected to be completed by March 2025. This project is an expansion of the manufacturing capacity outlined in Premier Energies’ Red Herring Prospectus.

In November of the previous year, the company’s subsidiaries secured multiple orders totalling Rs 1,087 crore. These orders were placed by two major Independent Power Producers (IPPs) and one additional customer. The deals included solar modules valued at Rs 964 crore and solar cells worth Rs 123 crore.

At 3:30 pm, the shares of Premier Energies closed 2.69% higher at Rs 1,146 on NSE.

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