Premier Energies and Syrma SGS Technology have announced a joint venture to acquire Pune-based solar inverter manufacturer KSolare Energy Pvt. Ltd. in a deal valued at ₹170 crore. Under the agreement, Premier Energies will hold a 51% stake in the JV, while Syrma SGS will own the remaining 49%. The acquisition aims to bolster India’s domestic solar manufacturing base, particularly in the rapidly growing residential and rooftop solar inverter segment.
KSolare currently produces around 500,000 inverters annually and plans to double its capacity to one million units through a brownfield expansion at its Pune facility. The company reported revenue of approximately ₹342 crore in FY25, signaling robust growth momentum amid rising clean energy adoption.
The collaboration aligns with national renewable energy initiatives such as the PM Surya Ghar Muft Bijli Yojana, which promotes affordable rooftop solar solutions. For Syrma SGS, the move strengthens its clean-tech manufacturing portfolio, leveraging its expertise in design, R&D, and Electronics System Design & Manufacturing (ESDM). For Premier Energies, it expands its vertically integrated capabilities — spanning solar cells, modules, inverters, and emerging energy storage systems.
The acquisition underscores growing consolidation and localization in India’s solar manufacturing ecosystem. The transaction is expected to close within 90 days, subject to customary regulatory approvals.
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