Surender Pal Singh Saluja and Family

Premier Energies manufactures solar cells, not just modules. That distinction matters more than it appears to.

Premier Energies is one of India's more vertically integrated solar manufacturers, producing cells, modules and systems rather than modules alone. Cell manufacturing is technically more demanding and capital-intensive than module assembly, and most Indian solar companies have historically depended on imported cells from China. Surender Pal Singh Saluja built the business into a position that allows it to produce domestically from a higher point in the value chain, giving it cost advantages and supply chain resilience that pure module assemblers do not have.

The company benefited from the Indian government's domestic content requirements and import restrictions on Chinese solar products, which created conditions in which domestic cell manufacturers could scale without competing directly against heavily subsidised imports. Premier Energies listed in 2024. The long-term question for the business is whether it can continue to compete as module technology evolves and as the global solar supply chain reconfigures around new cell architectures that Chinese manufacturers are already deploying at large scale.