PREMIERENE: Premier Energies Limited ("Company") has informed the Exchange that, Company has entered into a Joint Venture Agreement with Nuevosol Energy Private Limited.
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Premier Energies has entered into a Joint Venture Agreement with Nuevosol Energy Private Limited to invest in Premier-Green Aluminium Private Limited. The JV company will focus on foundry, extrusion, and manufacturing of aluminium frames for solar photovoltaic modules in India. PEL will hold 80% equity while Nuevosol will hold the remaining 20%. Premier-Green Aluminium is currently a wholly-owned subsidiary of PEL, and the JV will set up a new state-of-the-art manufacturing facility to serve domestic and captive requirements. The move is aimed at backward integration, securing supply chain for solar module components, and supporting the Make-in-India initiative.
This JV strengthens Premier Energies' control over critical solar module components (aluminium frames), reduces supply chain risks, and supports its solar manufacturing growth strategy. The 80:20 structure ensures PEL retains majority control while leveraging Nuevosol's expertise, which is positive for long-term shareholders.