Premier Energies Expands Renewable Portfolio with KSolare and Transcon Acquisitions

Premier Energies Ltd., India's renewable energy firm, has announced two strategic acquisitions to strengthen its position across the clean energy value chain.

The company, in partnership with Syrma SGS Technology Ltd, has acquired 100 per cent ownership of KSolare Energy Pvt. Ltd  a Pune-based solar inverter manufacturer, for INR 170 crore. Under the arrangement, Premier Energies will hold a 51 percent stake while Syrma SGS will own 49 percent.

KSolare Energy, India’s inverter manufacturer, producing more than 500,000 inverters annually for residential on-grid, off-grid and hybrid systems. The company reported revenues of INR 342 crore for FY2025. The partners plan to set up a brownfield facility in Pune to double KSolare’s production capacity to one million inverters per year, catering to India’s growing rooftop solar market and government initiatives such as the PM Surya Ghar Muft Bijli Yojana.

Commenting on this, Sunil Sinnarkar, Managing Director of KSolare Energy Pvt. Ltd., said, “This collaboration positions KSolare to become a global manufacturing powerhouse in solar and EV power electronics, while retaining our commitment to innovation, quality, and customer satisfaction."

“This partnership represents a pivotal step in strengthening India’s domestic manufacturing eco-system and advancing our collective clean energy goals,” said Chiranjeev Saluja, Managing Director and CEO, Premier Energies. “Together with SYRMA SGS, we aim to make high-quality Indian-made inverters accessible to every rooftop under the PM Surya Ghar initiative," he said.

Commenting on the collaboration, Jasbir Gujral, Managing Director, Syrma SGS, said, “This collaboration reflects Syrma SGS’s commitment to advancing India’s clean energy future through high-reliability manufacturing to deliver next-generation inverter platforms. We will combine our manufacturing expertise with Premier’s leadership in solar energy to offer best-in-class, affordable inverter solutions for India’s rapidly growing residential market.”

In a parallel development, Premier Energies has also entered into definitive agreements to acquire a 51 per cent ownership interest in Hyderabad-based Transcon Ind Ltd. for INR 500.3 crore. Transcon, an ISO-certified transformer manufacturer promoted by Amar Pal Gampa and Nagaraju Bandaru, has been in operation since 2003 and produces a wide range of energy-efficient transformers including solar inverter, distribution, and specialty transformers.

The company reported revenues of INR 263.5 crore in FY2025 and currently operates with a manufacturing capacity of 2.5 GVA per annum. This capacity is being expanded to 4.25 GVA by January 2026 through a INR 40 crore enhancement project, while its subsidiary Neotrafo Solutions India Pvt. Ltd. is developing a 10 GVA MV, HV, and EHV transformer facility in Hyderabad with a capital outlay of INR 181 crore, expected to be operational by June 2026.

“This investment marks Premier Energies’ foray into the fast-growing transformer business on the back of surging renewable power capacity addition and growing electrification of the economy,” said Saluja. “The acquisition allows us to move further downstream, offering integrated and bundled solutions to power producers, DISCOMs, and industrial customers, while shifting focus toward the higher-value MV, HV, and EHV segments over time," he added.

With these acquisitions, Premier Energies has expanded its presence across solar generation, power evacuation, and conversion technologies, positioning itself as a comprehensive clean energy solutions provider and a key enabler of India’s renewable energy transition.