HYDERABAD, India – In a strategic move to become a comprehensive clean energy solutions provider Premier Energies has announced its entry into the transformer manufacturing business by acquiring a 51 per cent stake in Transcon Industries for a total consideration of ₹500.3 crore.
The acquisition marks a significant milestone for the solar manufacturer, enabling it to offer integrated, bundled solutions to a wider range of customers in the power sector and strengthening its position across the renewable energy value chain.
A Strategic Leap Downstream
Premier Energies, primarily known for manufacturing solar cells and modules, is executing a deliberate strategy to move further “downstream” by adding critical grid infrastructure products to its portfolio. Transformers are essential components for transmitting and distributing electricity, especially from large-scale solar and wind farms.
Chiranjeev Saluja, MD & CEO of Premier Energies, stated, “This investment marks our foray into the fast-growing transformer business on the back of surging renewable power capacity addition and growing electrification of the economy.”
Offering Integrated Solutions
The acquisition of Transcon, which manufactures a wide range of transformers including solar and distribution types, allows Premier Energies to provide a one-stop-shop for power producers, distribution companies (DISCOMs), and industrial customers. Instead of just supplying solar panels, the company can now offer an integrated package of solar modules, transformers, and other balance-of-system components.
This move also positions Premier to shift its focus over time toward the higher-value medium voltage (MV), high voltage (HV), and extra high voltage (EHV) transformer segments, which are critical for the country’s evolving grid infrastructure.
Building a Clean Energy Powerhouse
This foray into transformers is part of a broader expansion plan for Premier Energies. The company is already scaling up to achieve a fully integrated 10 GW capacity across the solar value chain—from ingots and wafers to cells and modules. It has also announced plans to enter the battery storage and inverter manufacturing segments.
By controlling more steps in the clean energy ecosystem, Premier Energies aims to be a strategic enabler of India’s energy transition, offering more reliable, cost-effective, and seamlessly integrated solutions.
Frequently Asked Questions (FAQ).
1. What is Premier Energies’ core business?
Premier Energies is an Indian manufacturer of solar cells and modules. It is expanding to become a fully integrated solar company.
2. What has the company announced?
Premier Energies has acquired a 51% majority stake in transformer manufacturer Transcon Industries for ₹500.3 crore.
3. Why is Premier Energies entering the transformer business?
This move allows Premier to offer bundled solutions (solar panels + transformers) to its customers. It is a strategic step to become a fully integrated clean energy solutions provider and capitalize on the growing demand for grid infrastructure driven by renewable energy expansion.
4. What is the benefit of this “integrated” approach?
By offering integrated solutions, Premier can provide a one-stop shop for power producers, ensuring better compatibility, potentially lower costs, and simplified procurement and logistics for its clients.
5. What are Premier Energies’ other expansion plans?
The company is scaling up to 10 GW of integrated solar manufacturing (from ingots to modules) and has also announced plans to foray into battery storage and inverter manufacturing.
6. How does this support India’s clean energy goals?
By manufacturing critical components like transformers and solar panels domestically, Premier Energies supports India’s “Make in India” initiative and helps build a resilient, self-reliant supply chain for the country’s clean energy transition.
