Premier Energies to Invest ₹6,000 Crore in Solar Ingot-Wafer Plant on 200-Acre Andhra Pradesh Land
Premier Energies Limited is planning to invest approximately ₹6,000 crore over the next three years to build ingot and wafer manufacturing capabilities, as part of its move to become a fully integrated solar manufacturer in India. The investment forms part of the company's larger ₹12,500 crore capital expenditure plan.
The Andhra Pradesh government has approved the project and allotted 200 acres of land in Naidupeta, located around 45 minutes from Tirupati. The company plans to set up 10 gigawatt (GW) of ingot capacity and 10 GW of wafer capacity at the site, with work expected to begin soon.
Alongside the ingot-wafer investment, Premier Energies' broader capex plan includes more than doubling its cell and module manufacturing capacity to 10.6 GW and 11.1 GW respectively, and expanding into new segments such as inverters, batteries and transformers. The company currently manufactures 3.6 GW of cells and 11.1 GW of modules annually from facilities near Hyderabad, Telangana.
The investment aligns with the government's Approved List of Models and Manufacturers (ALMM) framework, which the Ministry of New and Renewable Energy has extended to cover ingots and wafers, with the new ALMM List-III taking effect from June 1, 2028. From that date, all ingots and wafers used in India will be required to be domestically manufactured.
Once operational, the ingot and wafer facility will primarily serve Premier Energies' captive requirements, with surplus wafers to be sold in the open market, completing the company's backward integration across the solar manufacturing value chain.