Premier Solar, a city based firm in the solar energy space for over two decades, will expand its solar module manufacturing facility with the commissioning of a 200 MW plant later this week.
The company, which is also an EPC provider and independent power generator, plans to unveil solar powered bicycles, e-rickshaws, rickshaws and two-wheelers too at the function on July 29. Minister K.T.Rama Rao and Harish Rao are scheduled to participate in the programme at its factory in Annaram village, Sangareddy district.
The new facility will take the capacity of the company to 375 MW for the modules. An investment of ₹100 crore has been made on the new facility and e-vehicle projects.
The company also plans to expand the manufacturing capacity of solar cells from existing 50 MW in two years. Speaking to the media here on Wednesday, Premier Solar Systems chairman Surender Pal Singh said the company intends to set up a 500 MW solar cell manufacturing facility with Japanese and Chinese collaboration.
The solar cells project, for which Siddipet is one of the locations under consideration, is expected to entail nearly ₹1,200 crore investment.
Premier Solar, which has tied up with Japanese and Chinese firms, will hold around 40% equity in the company. “We have entered into an agreement with them and waiting for sanctions from the State government,” he said adding that the company expected subsidies, power at a concessional rate and assurance on water supply.