Under the agreement, Premier Energies will hold a 74% stake, while SAS will own the remaining 26%. The new facility will slice polysilicon ingots into silicon wafers, which are a key component in the production of solar cells and modules. This initiative marks Premier Energies' move toward backward integration in the solar value chain.
Chiranjeev Saluja, Managing Director of Premier Energies, stated: “The joint venture will play a pivotal role in strengthening the Make-in-India policy initiative of the Indian government.” He noted that this partnership represents a significant step for the company as it expands its presence in solar wafer manufacturing.
Premier Energies currently claims a manufacturing capacity of 11.1 GW, which includes 5.8 GW of capacity under development. In November, the company announced plans to establish an aluminum frame manufacturing unit. Earlier this year, it also suspended plans to build a factory in the United States.
SAS brings extensive experience in the semiconductor and silicon wafer sectors. Its subsidiary, GlobalWafers Co. Ltd., is recognized as the world’s third-largest producer of semiconductor silicon wafers, with a strong focus on research, development, and manufacturing capabilities.
Doris Hsu, Chairperson and CEO of SAS and GlobalWafers, said: “This agreement is an important step for the companies’ future development in India.” The collaboration reflects both companies’ commitment to expanding their presence in key global markets and supporting the development of localized clean energy manufacturing infrastructure.
The joint venture is expected to contribute to the growth of India’s renewable energy sector by supporting domestic production and reducing reliance on imported components. It also aligns with broader goals to enhance energy security and build a robust supply chain for solar technologies.
