Premier Energies forms joint venture to expand presence in renewable EPC

New Delhi, Feb 10 (PTI) Premier Energies has formed a joint venture with BA Prerna Renewables to expand presence in renewables EPC (engineering, procurement and construction) segment.

In the newly formed entity, Premier Energies has a majority 51 per cent stake, while the remaining is with the joint venture (JV) partner.

HeliosAnthos Energies will offer end-to-end EPC solutions covering land acquisition, transmission connectivity, statutory approvals, detailed engineering, procurement, installation and commissioning, Premier Energies said in an exchange filing.

The company’s MD & CEO, Chiranjeev Saluja, said, “The JV would strengthen our EPC capabilities and expand our footprint across the renewable energy sector as our partner holds expertise

in securing land and transmission connectivity.” Transmission connectivity remains a critical requirement for solar and storage-led energy infrastructure as the country moves ahead with its renewable energy goals.

Hyderbad-based Premier Energies owns and operates a solar module manufacturing capacity of 5.5 gigawatt and 3.6 gigawatt (GW) in Telangana.

The company is in the process to more than double its annual solar cell and module manufacturing capacities to 10.6 gigawatt and 11.1 gigawatt.

It has a total investment plan of over Rs 11,000 crore, including expansion of solar capacities and forays into new areas like inverters, batteries, and transformers. PTI ABI TRB