Premier Energies, a fully integrated manufacturer of solar cells and modules, has unlocked two significant joint venture agreements (JV). The agreements unlock significant potential in the solar manufacturing industry.
The first one signed with Hyderabad-based Nuevosol Energy Pvt. Ltd., a leading producer of solar PV mounting structures aims to manufacture aluminium-based solar module frames and other value-added components essential to solar module production. Under the agreement, Premier Energies will hold a majority stake in the venture.
The JV plans to establish a 36,000 MT per year aluminium extrusion and anodising facility in Seetharampuram, Telangana, to support Premier Energies' solar manufacturing ecosystem. Commercial operations are slated to commence in FY 2027.
A 74:26 joint venture
The second agreement is a 74:26 joint venture with Taiwan-based Sino-American Silicon Products (SAS) to establish solar wafer manufacturing capabilities. The India-based company signed another significant agreement with Hyderabad-based Nuevosol Energy Pvt. Ltd., a leading producer of solar PV mounting structures.
The joint venture (JV) will set up a manufacturing facility in India with an annual capacity of 2 GW. The plant will focus on slicing polysilicon ingots into silicon wafers, which will be used to produce photovoltaic cells and modules.
A 74:26 joint venture agreement is a business arrangement between two parties, where one party holds a 74 per cent ownership stake and the other holds 26 per cent. Doris Hsu, Chairperson and Chief Executive Officer (CEO) of Sino-American Silicon Products Inc. and GlobalWafers Co., Ltd., remarked that this collaboration marks a significant milestone in India's strategic expansion.
