Hyderabad-based Premier Energies has invested Rs 430 crore to increase its module manufacturing capacity to 1,500 mega-watt (MW) per year from its current base of 500 MW, enthused by the market visibility offered through various central government solar schemes with mandatory domestic content requirement.
The company is also adding 750 MW of cell manufacturing capacity and the new line expected to be launched in April. “With programmes such as the CPSU solar scheme and KUSUM, which have domestic content requirements, the government has given a clear visibility of the market for the next five years at least,” Chiranjeev Saluja, managing director of Premier Energies, told FE. After that, export markets — especially in the US — also look lucrative with the push towards green energy by the Biden government, Saluja added.
The CPSU scheme aims to set up 12,000 MW of solar capacity using domestic ingredient by government companies by FY23 and the Cabinet has already sanctioned a viability gap funding support of Rs 8,580 crore towards this scheme.
