Premier Energies and Syrma SGS Tech: Solar Power Play with KSolare Acquisition

Premier Energies has partnered with Syrma SGS Technology to acquire a 100% stake in KSolare Energy for Rs 170 crore. The acquisition aims to tap into the rapidly growing residential solar market, with plans to expand production capacity and offer high-quality made-in-India inverters.

In a strategic move to strengthen its foothold in the solar industry, Premier Energies has joined forces with Syrma SGS Technology to acquire KSolare Energy for Rs 170 crore. This acquisition marks Premier Energies' entry into the burgeoning residential solar inverter market.

The partnership intends to boost production capacity to one million inverters annually at a new facility in Pune. This initiative aligns with the government's PM Surya Ghar Muft Bijli Yojana, aiming to make Indian-produced inverters more accessible to the domestic market.

Premier's MD & CEO, Chiranjeev Saluja, and Syrma SGS' MD, Jasbir Gujral, have expressed optimism about combining their expertise to deliver superior, affordable inverter solutions, further establishing their leadership in India's renewable energy sector.

(With inputs from agencies.)