Premier Energies, a leading renewable energy player, is set to invest Rs 11,000 crore to expand its solar cell and module manufacturing capacity.

The company plans to more than double its annual production to 10.6 GW for cells and 11.1 GW for modules to meet growing domestic demand. Currently, Premier Energies manufactures 3.2 GW of cells and 5.1 GW of modules annually across four units in Telangana. As part of its expansion, the company will add 7.4 GW of cell manufacturing in Andhra Pradesh, and six GW of module capacity in Telangana.

The move is driven by increased demand for solar products both in India and abroad. The expansion is also aligned with India's "Make in India" initiative, supported by the government’s ALMM framework. The company has already secured Rs 1,300 crore through an IPO and Rs 2,200 crore in debt from IREDA. “The demand for our modules is growing in India and abroad,” said Vinay Rustagi, Chief Business Officer at Premier Energies.