According to reports, city-based solar solutions provider Premier Solar on Wednesday announced that it has set up a 200MW solar module manufacturing facility in Sangareddy, taking its total installed capacity to 375MW. The company also announced its foray into the solar powered hybrid e-vehicles segment.
“The new 200MW plant will be launched on July 29 and we will also be unveiling the solar powered hybrid e-vehicles on the same day. In the last two years, we have invested close to Rs 100 crore towards setting up this unit as well as on R&D for the solar-powered hybrid e-vehicle,” Premier Solar chairman Surender Pal Singh said.
Singh said the company has a 50MW solar cell manufacturing capacity. Over the next two years, the company plans to set up a new 500MW solar cell manufacturing unit in Telangana along with a Chinese as well as Japanese partner. This unit is expected to be set up at an investment of Rs 1,200 crore and the company is in the process of getting the project clearances from the Telangana government. The company will be a minority stakeholder in this project with a 40% stake and the rest will be held by its foreign partners. On solar powered e-vehicle, he said the company has been working on this segment for over a year and will be manufacturing these vehicles in the state. The company will market its brand of e-vehicles in Telangana and AP.