Premier Energies becomes largest solar cell manufacturer in India; what investors should know

Premier Energie shares will remain in focus on Monday morning, after the company announced a major capacity expansion development. The shares closed 2.5% higher on Friday at ₹902 apiece on the NSE. The shares have delivered over 6.5% returns in 2026 on a YTD basis. Meanwhile, the shares continue to trade in red on trailing twelve months, declining 14%.

The company’s exchange filing on Monday morning read, “Premier Energies Ltd has commissioned its 7 GW N-type TOPCon G12R solar cell manufacturing facility at Naidupeta, Andhra Pradesh and starts trial runs, taking the company’s total solar cell capacity to 10.6 GW. Making the solar equipment manufacturer the largest in the country.”

Built for high-throughput, the facility can produce approximately 88,000 solar cells per hour. With advanced digital systems and artificial intelligence support, preredictive performance analysis to improve throughput, consistency and operating efficiency.

Commenting on the development, Mr. Chiranjeev Saluja, Managing Director, Premier Energies Ltd, said: “Commissioning India’s largest solar cell manufacturing facility on time and within budget is an important execution milestone for Premier Energies. We remain positive on the outlook for orders, pricing and demand for high-efficiency solar products”

Premier Energies Q1FY27 capacity

The company held 3 GW cell manufacturing capacity as of Q1FY27, which now stands at 10.6 GW by the end of Q2FY27. Similarly, company holds 11 GW module manufacturing capacity as of Q1FY27, making it the key player in India’s renewable energy ecosystem. Besides this, the company also has 10 GW ingot wafers manufacturing facility under construction, along with 18,000 MT aluminium frame and 12 GWh Battery Energy Storage Systems (BESS) capacity also under construction. With the total installed capacity, company currently runs at 92% capacity utilization for its solar cell segment and 63% for its module segment.

Premier Energies order book

As of Q1FY27, company’s total order book stands at 9,867 MW worth ₹15,000 crore, after securing over ₹3,300 crore new orders in Q1FY27. Solar cells continued to dominate total order book at 58%, followed by modules at 40%, while Transformers and others remain over 2%.

Rising solar power generation capacity

At the industry level, the solar power is incrementally contributing to India’s energy output year-after-year. The total solar power generation has increased from over 40 TWh in 2019 to 160 TWh in 2025 an has crossed 100 TWh in H1 of 2026 already. Similarly, solar power’s share in incremental power generation jumped to 25% for the period of 2017-2025.

Whats driving the solar power demand?

Beyond the household and industrial power demand, Artificial Intelligence has now emerged as key demand player for solar power in recent years. India’s current 1.9 GW data centre capacity and under development 4.5 GW capacity is expected to drive 24 GW solar power demand by 2030 as per KPMG India