Premier Solar Systems mulls stepping up production capacity, retail foray

Premier Solar Systems is on expansion mode of its manufacturing capacity while exploring entry into solar retail business.

The Hyderabad-based company which offers end-to-end solutions for the solar industry, right from modules, installation, EPC contract, operation and and maintenance, is now looking at tapping into the retail market poised to see significant growth.

Surender Pal Singh, Chairman, Premier Solar Systems, said “We are amongst the country’s oldest solar photovoltaic solutions provider having started the journey in 1995 and since then we have gradually expanded our facilities. We now have capacity for 500 MW module unit and 60 MW of solar cells.”

“Last year we stepped up the manufacturing capacity and continue to explore opportunities for further expansion. Unless we do this, we will not be able to meet the growing demand in the market,” he told Business Line.

“Even though we are functioning at about 70-75 per cent capacity, we believe the upcoming business in the country offers immense scope for a company like Premier which plays in the entire solar spectrum,” he said.

As an EPC contractor we have installed a number of marquee projects including canal top, floating solutions, solar-wind-diesel hybrids, and are in the process of implementing a 100 MW solar PV unit for Neyveli Lignite. In addition as an Independent Power Producer, we have an installed capacity of about 124 MW spread over different locations, he said.

“Last fiscal we had closed with revenues of Rs 538 crore and expect to close the fiscal at about Rs 650 croore. As a Premier Solar Group, which offers other products, we expect a turnover of over Rs 1,000 crore,” he said.

Referring to the GST related issue, the Chairman hoped that the Government and the GST Council solar players in the country for reduction in GST rates when systems are installed. “Already some changes have been brought about on the GST as also through the safeguard duty. Some more support will provide a boost to the domestic manufacturing,” he said.

“In the recent times we have had success in installation of solar pump sets for agriculture and thus far installed more than 20,000 pump sets. This market along with solar rooftop will become very big in the years to come,” he explained.