Indian solar manufacturer Premier Energies has acquired a 51% stake in transformer maker Transcon and inverter producer KSolare Energy.
Premier invested INR5 billion (US$56.96 million) in acquiring Transcon and INR1.7 billion (US$19.38 million), alongside Syrma SGS Technology, in KSolare, strengthening its position across the solar manufacturing and power electronics value chain. The transaction is expected to close in 90 days, after which KSolare will operate as a subsidiary of Premier Energies.
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“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 Chiranjeev Saluja, CEO, Premier Energies.
“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.”
The Hyderabad-based Transcon currently operates with a 2.5GVA annual manufacturing capacity, which is being expanded to 4.25GVA by January 2026 under an INR400 million upgrade project to add higher value products such as dry-type and inverter-duty transformers.
Through this acquisition, Premier gains access to Transcon’s broad range of transformers, including solar inverter transformers (33kV), distribution transformers (33kV, 11kV, 6.6kV, 3.3kV), and specialty units for power distribution and industrial clients.
Through its subsidiary, Neotrafo Solutions, Transcon is also investing INR1.81 billion to establish a 10GVA MV, HV, and EHV transformer facility in Hyderabad, expected to be operational by June 2026. Transcon reported revenues of INR2.63 billion for FY2025.
Premier Energies is advancing toward a fully integrated 10GW manufacturing capacity across ingots, wafers, cells, and modules, while expanding into battery storage and inverter manufacturing. The New Delhi-based firm plans to more than double its current capacity to 8.4GW in cells and 11.1GW in modules by June next year.
In a recent interview with PV Tech, Vinay Rustagi, chief business officer, Premier Energies, said the company is aligning its growth strategy with India’s vision to manufacture solar components “in India, for India and beyond.”
Recently, the company commissioned a 1.2GW tunnel oxide passivated contact (TOPCon) solar cell manufacturing line at Fab City, Hyderabad, Telangana. The facility, designed to deliver over 25% cell efficiency using a 16-busbar design to enhance power output, increased the company’s annual cell capacity from 2GW to 3.2GW.
