Premier Energies share price climbs as its units bag solar cell and module orders worth ₹1,460 crore

In an exchange filing late Tuesday, Premier Energies informed that its subsidiaries Premier Energies International Pvt Ltd, Premier Energies Global Environment Pvt Ltd and Premier Energies Photovoltaic Pvt Ltd have won multiple orders valued at ₹1,460 crore from two large independent power producers and others.

"Premier Energies Global Environment Private Limited, Premier Energies International Private Limited, Premier Energies Photovoltaic Private Limited the subsidiaries of Premier Energies Limited, have received and accepted multiple orders aggregating to ₹1,460 crore from 2 large Independent Power Producers (IPP) and others," the company said.

These orders include ₹1,041 crore for solar modules and ₹419 crore for solar cells. The delivery of these modules will commence in May 2025.

The renewable power company informed shareholders that the promoter or promoter group companies have no interest in the entities that awarded the orders. Premier Energies confirmed that the contracts do not fall under related party transactions.

Premier Energies share price

Shares of Premier Energies increased as much as 5.64% to ₹1,179 apiece on the National Stock Exchange (NSE). It settled 2.69% higher at ₹1,146.

Premier Energies shares made their market debut in September last year. The stock debuted at ₹990 apiece, a premium of 120% over the issue price of ₹450. The scrip is up 154.66% from the issue price.

It hit its 52-week-high of ₹1,388 per unit on December 17, 2024.

Premier Energies manufactures integrated solar photovoltaic (PV) cells and solar modules. Its customers include Tata Power Solar Systems, Continuum, Panasonic, Shakti Pumps, Bluepine Energies, Luminous, First Energy, Hartek, Madhav Infra Projects, SolarSquare Energy, Green Infra Wind Energy and Axitec.

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