Premier Energies, Syrma SGS Technology Call Off INR 170 Cr K-Solare Acquisition Deal
Premier Energies and Syrma SGS Technology have called off their proposed INR 170 crore acquisition of Pune-based inverter manufacturer K-Solare Energy, citing evolving strategic considerations.
May 12, 2026. By Mrinmoy Dey
“After mutual discussions and evaluation of evolving strategic considerations, the company and Syrma SGS have decided not to proceed further with the proposed acquisition of K-Solare. The parties have agreed to terminate the discussions with K-solare amicably, and there are no material financial implications arising from the same,” Premier Energies stated in a regulatory filing.
In October 2025, Premier Energies announced its plan to form a joint venture with Syrma SGS Technology to acquire 100 percent ownership of KSolare Energy, a Pune-based solar inverter manufacturer, for INR 170 crore. Under the arrangement, Premier Energies was proposed to hold a 51 percent stake while Syrma SGS would have owned 49 percent.
KSolare Energy has been 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 planned 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.
Premier Energies added that it remains committed to the solar inverter and renewable energy electronics business segment and is exploring alternative strategies to strengthen its presence in the sector.
please contact: contact@energetica-india.net.
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