Premier Energies, one of India’s largest integrated solar cell and module manufacturer has announced a technology partnership with RENA Technologies GmbH, a Germany based global leader in wet chemical process equipment.
This is a big step for both the companies as they look to accelerate innovations in N-Type solar cell and tandem solar cell technologies including silicon/Perovskite tandem cells which is considered as the future of high efficiency photovoltaics.
Premier Energies and RENA Technologies Partnership Details
The partnership was announced through press release and regulatory filings to BSE and NSE. The partnership is focused on process innovation in wet chemistry for solar cell manufacturing. Premier Energies will leverage RENA’s expertise in wet chemical process engineering while RENA will benefit from Premier’s large scale production capacity and growing presence in Indian solar market.
“This partnership puts Premier at the forefront of N-Type efficiency curve and opens up opportunities for us to move into tandem cell development which is a key step in the evolution of solar cell technology,” said Sudhir Reddy, Director and Chief Strategy Officer at Premier Energies.
From RENA’s side CEO Peter Schneidewind said “This is a great opportunity for RENA to work closely with a leading Indian cell manufacturer using our latest tools to deliver better products, reduce consumables and lower the carbon footprint of solar cell production.”
India has set ambitious targets for renewable energy, 500 GW of non-fossil fuel capacity by 2030. In this context, Premier’s partnership with a European technology leader like RENA is a sign of global confidence in India’s clean energy plans—and a shift from scale to technological depth in manufacturing.
“Closer collaboration with equipment manufacturers is key,” said Chandra Mauli Kumar, Chief Production Officer of Premier Energies. “This partnership will help us achieve higher throughput, better efficiencies and lower carbon footprint.”
Premier Energies Post-IPO Performance and Financial Impact
Premier Energies launched its IPO on 27 August 2024, with an IPO size of INR 2,830.4 crore. The issue was subscribed 74.3X and delivered a multibagger return of 86.64% on listing day. Premier Energies made its all-time high of INR 1,388 per share on 17 December 2024, reflecting a 208% return from its allotment price of INR 450 per share. Currently, it is trading around INR 920 per share (correction of 33% from its all-time high).
Following the news, Premier Energies’ shares rallied 3.5% to INR 924.70 per share in 15 April’s trading session. Premier’s stock is still below its post-listing high of INR 1,388, so there’s plenty of room to run.
Premier’s Growing Capabilities
Premier Energies, a publicly listed and Great Place to Work-certified company, has a solar cell manufacturing capacity of 8 GW (6 GW under construction) and solar module capacity of 9.13 GW (5 GW under construction). The company has been on a growth trajectory, recently reported Q3 FY25 net profit of INR 255.22 crore, a 490.51% year on year growth, with revenue up 140.47% to INR 1,713.32 crore.
With such strong financials and partnerships like RENA, Premier is well placed as India moves to next gen solar technologies.
RENA’s Strategic Expansion in Asia
For RENA Technologies has established its global reputation across semiconductors, glass, and medical technology in addition to solar, this collaboration serves a dual purpose: deepening its foothold in the Asian market and aligning itself with one of India’s top renewable energy companies.
“This partnership is a key strategic step in ensuring RENA’s proximity to the dynamic Indian solar market,” said Sebastian Kress, Chief Operating Officer of RENA. The firm aims to co-develop tools and processes that not only elevate cell performance but also contribute to greener and more sustainable manufacturing standards.
Conclusion
As the global solar industry pivots toward next-gen cell architectures, including TOPCon and tandem technologies, companies that combine scale, innovation, and sustainability will emerge as long-term winners.
With its latest partnership, Premier Energies is not only signaling its intent to lead this transition but also making a compelling case for long-term investors and clean-tech enthusiasts alike. For more details related to IPO GMP, SEBI IPO Approval, and Live Subscription stay tuned to IPO Central.