Premier Energies Enters Transformer Market with Major Acquisition

Premier Energies has acquired a 51% stake in Transcon Industries for Rs 500.3 crore. This move marks their entry into the transformer manufacturing sector as part of their strategy to establish a fully-integrated clean energy solutions platform, enhancing their position in India's renewable energy transition.

Premier Energies has announced a significant step in its growth strategy by acquiring a 51% stake in Transcon Industries, costing Rs 500.3 crore.

This acquisition signals Premier's ambitious move into transformer manufacturing, aiming to become a fully-integrated clean energy provider, a critical part of India's renewable energy expansion. Citing increasing renewable energy capacity and electrification, MD & CEO Chiranjeev Saluja emphasized the investment's role in positioning Premier Energies across medium and high voltage sectors.

Currently producing solar cells and modules, Premier Energies is on a trajectory to scale up to 10 GW and is venturing into battery storage and inverter manufacturing, further embedding itself in the clean energy ecosystem.

(With inputs from agencies.)