Premier Energies and Nuevosol Form Joint Venture for Solar Frame Manufacturing in Telangana

Premier Energies Ltd., a prominent Indian renewable energy company, has entered into a joint venture with Hyderabad-based Nuevosol Energy Pvt. Ltd. to establish a manufacturing facility for aluminum frames used in solar photovoltaic (PV) modules. The joint venture aims to strengthen domestic solar manufacturing capabilities and reduce reliance on imported components.

Joint Venture Overview

Under the agreement, Premier Energies will hold an 80% equity stake in the new entity, Premier-Green Aluminium Pvt. Ltd., while Nuevosol will own the remaining 20%. The venture plans to set up a state-of-the-art aluminum extrusion and anodizing facility in Seetharampuram, Telangana, with an annual production capacity of 36,000 metric tons. The facility is expected to commence commercial operations in the fiscal year 2027.

The manufacturing unit will focus on producing high-quality aluminum frames essential for solar PV modules. By localizing the production of these critical components, the joint venture aims to enhance supply chain reliability and support the Indian government's 'Make in India' initiative.

Strategic Significance

Premier Energies' collaboration with Nuevosol aligns with its broader strategy to achieve vertical integration in the solar manufacturing value chain. The company currently operates 2 GW of solar cell and 5.1 GW of module manufacturing capacities, with additional capacities under construction. The joint venture will enable Premier Energies to have greater control over the quality and availability of module components, thereby improving overall efficiency and competitiveness.

In addition to this partnership, Premier Energies has also announced a joint venture with Taiwan-based Sino-American Silicon Products Inc. (SAS) to establish a 2 GW per annum silicon wafer manufacturing facility in India. This move further underscores the company's commitment to expanding its presence across the solar manufacturing spectrum.

Conclusion

The joint venture between Premier Energies and Nuevosol represents a significant step towards bolstering India's domestic solar manufacturing infrastructure. By investing in the production of critical components like aluminum frames, the partnership aims to support the country's renewable energy goals and reduce dependence on imports. The upcoming facility in Telangana is poised to play a crucial role in meeting the growing demand for solar energy solutions in India.

Source and Credits:

This news article is based on information from ESG Times. g