Premier Energies Plans ₹6,000-Crore Capex for Ingot and Wafer Business.

Premier Energies plans to invest around ₹6,000 crore over the next three years to establish ingot and wafer manufacturing capabilities as it looks to become a fully integrated player in India's solar manufacturing industry, a senior company executive said.

The proposed investment forms part of the company's broader ₹12,500-crore capital expenditure plan, which includes more than doubling its solar cell and module manufacturing capacities to 10.6 gigawatt (GW) and 11.1 GW, respectively. The expansion strategy also envisages entry into adjacent businesses such as inverters, batteries and transformers.

"Our total investment in the ingot and wafer business will be approximately ₹6,000 crore over the next three years (by 2028)," Vinay Rustagi, Chief Business Officer (CBO) at Premier Energies, told PTI in an interview when asked about the company's strategy to strengthen backward integration.

The investment is aimed at enhancing the company's manufacturing integration, reducing dependence on imports and strengthening its position across the solar value chain.