Premier Energies to Invest ₹6,000 Crore in Ingot, Wafer Manufacturing by 2028

Premier Energies will invest around ₹6,000 crore over the next three years to establish 10 GW ingot and 10 GW wafer manufacturing capacity in Andhra Pradesh, as part of its strategy to become a fully integrated solar manufacturing company by 2028 .

The investment is part of the company's ₹12,500 crore capital expenditure plan , which also includes expanding its solar cell capacity to 10.6 GW , maintaining 11.1 GW module capacity , and entering new businesses such as inverters, batteries and transformers .

Chief Business Officer Vinay Rustagi said the Andhra Pradesh government has allotted 200 acres of land at Naidupeta , near Tirupati, for the project, with construction expected to begin soon.

Once operational, the facility will enable Premier Energies to manufacture the complete solar value chain from ingots and wafers to cells and modules strengthening its backward integration and reducing reliance on imports.

Rustagi said the expansion aligns with the Centre's push for self-reliance in solar manufacturing . In March, the Ministry of New and Renewable Energy expanded the Approved List of Models and Manufacturers (ALMM) framework to include ingots and wafers, with the new norms taking effect from June 1, 2028 .

Currently, Premier Energies manufactures 3.6 GW of solar cells and 11.1 GW of modules annually from facilities near Hyderabad. The upcoming ingot and wafer capacity will primarily meet the company's captive demand, while surplus production may also be supplied to the domestic market, supporting India's efforts to build a robust domestic solar manufacturing ecosystem.