New Delhi, February 10 Premier Energies has formed a joint venture with BA Prerna Renewables to expand its presence in the renewable energy EPC (engineering, procurement, and construction) segment.
In the newly formed entity, Premier Energies holds a majority 51% stake, while the remaining stake is held by the joint venture (JV) partner.
HeliosAnthos Energies will offer end-to-end EPC solutions covering land acquisition, transmission connectivity, statutory approvals, detailed engineering, procurement, installation, and commissioning, Premier Energies said in an exchange filing.
The company's MD & CEO, Chiranjeev Saluja, said, "The JV would strengthen our EPC capabilities and expand our footprint across the renewable energy sector, as our partner has expertise in securing land and transmission connectivity."
Transmission connectivity remains a critical requirement for solar and storage-led energy infrastructure as the country moves forward with its renewable energy goals.
Hyderabad-based Premier Energies owns and operates a solar module manufacturing capacity of 5.5 gigawatts and 3.6 gigawatts (GW) in Telangana.
The company is in the process of more than doubling its annual solar cell and module manufacturing capacities to 10.6 gigawatts and 11.1 gigawatts.
It has a total investment plan of over Rs 11,000 crore, including expansion of solar capacities and forays into new areas like inverters, batteries, and transformers.
