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Premier Energies raises Rs 200 crore PE from GEF Capital

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Premier Energies raises Rs 200 crore PE from GEF Capital

Premier Energies, a solar equipment manufacturer, said on Friday that it has raised 2 billion rupees worth of private equity from GEF Capital, a global private equity management company focused on investing in climate solutions. According to the statement, Premier Energies will use the funds as growth capital to increase its solar photovoltaic cell and module manufacturing capabilities. The company will invest equity to consolidate its position as a leading integrated solar cell and module manufacturer by increasing the 2 GW cell manufacturing capacity and 2 GW module manufacturing capacity based on the latest monocrystalline PERC technology, as well as planned investments exceeding Rs. 1,200 trillion US dollars in the next two years.

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Founder-and-Managing-Director-Chiranjeev-Saluja

Founder and Managing Director Chiranjeev Saluja said in a statement: “I am confident in meeting the growth expectations of stakeholders and will continue to work hard to improve the vitality of sustainable clean sources.” Premier Energies, headquartered in Hyderabad, is currently the second largest manufacturer of integrated solar photovoltaic cells and modules in India, and has completed 25 years of operation in 2020. In July of this year, Premier Energies launched their most advanced new facility in E-City Hyderabad. The solar cell manufacturing industry has recently witnessed unprecedented interest from strategic investors. These initiatives are government-driven progressive initiatives such as domestic content requirements (DCR) policies, basic tariffs (BCD) and production-related incentives under the Indian government’s Aatmanirbhar initiative ( PLI) plan. This investment from GEF Capital, a key ESG fund, is of particular significance, because this investment can be regarded as a trend leader in the private equity fraternity, supporting technology-savvy manufacturers such as Premier Energies to have a strong survival in the field of solar cell manufacturing Capacity and strong growth potential.

News Source : Backtrack

Construction Infrastructure

The Adani Enterprises unit has received a letter of approval for an NH project in Maharashtra

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The Adani Enterprises unit has received a letter of approval for an NH project in Maharashtra

Adani Road Transport Ltd (ARTL), a wholly owned subsidiary of Adani Enterprises, has received LoA for a project involving six laning of Kagal-Satara section of NH-48 (old NH4) in Maharashtra. The project will be executed under the Bharatmala Pariyojana at ₹2,008.47 crores. The construction period for the 67-km long road project is expected to be 2 years from the date of appointment and the concession period will be 18 years.

With this project award, Adani’s road portfolio will have total 14 projects with more than 5,000 lane km with asset value exceeding ₹41,000 crore spread across India.

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