Premier Energies (PEL) has entered into a joint venture agreement with Taiwan-based Sino-American Silicon Products (SAS) to manufacture and sell silicon solar wafers in India.

Premier will hold a 74% equity stake in Premier Energies GWC, and SAS will hold the remaining 26%. Premier Energies GWC is currently Premier’s wholly owned subsidiary with an authorized share capital of ₹1 million (~$11,740).

The joint venture will establish a 2 GW manufacturing facility in India to produce advanced solar wafers for domestic and global markets. It will cut polysilicon ingots into silicon wafers for manufacturing photovoltaic cells and modules. This partnership leverages Premier’s manufacturing capacity with SAS’s semiconductor wafer technology.

The board of directors will have four members, with Premier nominating three and SAS one.

Premier Energies has also entered into a joint venture with Nuevosol Energy to form Premier-Green Aluminium, focusing on the foundry and extrusion of aluminum frames specifically for solar modules. This Telangana-based initiative is expected to have a production capacity of 36,000 million tons per annum.

The aluminum frames joint venture’s authorized share capital is ₹1 million (~$11,740). It aims to serve the Indian market by establishing a state-of-the-art manufacturing facility to meet domestic and captive requirements.

Premier’s equity stake in Premier-Green Aluminium, currently its wholly owned subsidiary, will change to 80% after the agreement. Nuevosol Energy will hold the remaining 20% in the joint venture.

The joint venture’s board of directors will comprise five members, with Premier  nominating four and Nuevosol one. This collaboration aims to provide Premier with better control over module component quality and ensure supply chain reliability to strengthen its position in the solar energy sector.

Capital contributions for both joint ventures will be made per the agreed shareholding ratios during project implementation.

In December 2024, Premier Energies Global Environment, a subsidiary of Premier Energies, announced the setting up of a 1 GW solar module manufacturing facility at the EMC Maheshwaram industrial zone in Telangana.

In August 2024, North America-based solar module manufacturer Heliene announced a joint venture with Premier Energies to establish a solar cell manufacturing facility in the U.S.