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Informist, Tuesday, Aug. 26, 2025

 

By Pallavi Singhal and Shakshi Jain

 

NEW DELHI – Premier Energies, a leading solar cell and module manufacturer in India, is shifting its focus from the US market to the domestic market due to policy uncertainties in the US, Vinay Rustagi, chief business officer of Premier Energies, told Informist.

 

"For the US plant, there is a lot of uncertainty. So, we have reduced our focus on the US temporarily, and are diverting all our production to the Indian market," he said on the sidelines of the Indo-American Chamber of Commerce's 3rd Energy Summit in New Delhi on Tuesday. 

 

This comes after Premier Energies had to pause its plans to set up a 1 gigawatt solar cell plant in the US in February this year. Premier Energies paused its plan to build the 1 GW solar cell manufacturing facility in the US due to policy uncertainties after the election of Donald Trump as the US president. The Indian solar manufacturer had partnered with North American solar module maker Heliene in July 2024 to capitalise on incentives and tax credits under the Inflation Reduction Act. However, with Trump's administration challenging the inflation reduction act and pausing tax credits for clean industries, Premier Energies decided to divert its production to the Indian market.

 

Premier Energies is confident about the Indian market, where demand for solar products is rising rapidly, he said. The company is targeting a 10 gigawatt solar module manufacturing capacity by 2027-28 (Apr-Mar), driven by strong demand in the domestic market.

 

Premier Energies is expanding into battery storage systems and solar inverters as part of a broader strategy to become a fully integrated renewable energy equipment manufacturer. "We expect the plans to come online next year," Rustagi said. 

 

On imports of raw materials from China, Rustagi said that the company was following the Indian government's push to phase out the imports completely. "This will be in line with the Make in India policy. And I think over the next 2-3 years, we'll see the entire ecosystem develop in India, whether it is glass, aluminum frames, back sheets, etc, everything is now increasingly being made in India," he said.  

 

At 1235 IST, shares of the company traded at INR 1,007.50, up 0.4% from their previous close, on the National Stock Exchange.  End

 

Edited by Akul Nishant Akhoury

 

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