Premier Energies secures $20 million solar contracts in West Africa

Homegrown Premier Energies on Monday announced securing multiple solar contract worth $19.95 million (around Rs 177 crore) Republic of Benin, West Africa.

These projects are part of a national initiative by the Government of Benin to expand access to reliable, sustainable clean energy, Premier Energies said in a statement.

Implementation will be carried out by Premier Energies in collaboration with the General Directorate of Energy Planning and Rural Electrification, under the Ministry of Energy, Water and Mines, Republic of Benin.

The scope of the contracts covers installation of 750 rooftop solar systems at key socio-community facilities, including district police stations, educational institutions, health centres and special border surveillance units, plus installation of over 4,400 high-efficiency solar streetlights and 650 solar water heaters.

 

Financing for the project valued at $19.95 million is secured through a Line of Credit from the Export-Import Bank of India (EXIM Bank) and the ECOWAS Bank for Investment and Development (EBID).

"These projects are expected to enhance community safety, healthcare services, educational infrastructure and overall energy sustainability in the Republic of Benin. The contract award represents a strong endorsement of our operational capability and global competitiveness," Chiranjeev Saluja, Managing Director & CEO, Premier Energies, said.

Hyderabad-based Premier Energies is one of India's largest vertically integrated solar cell and module manufacturers.

The company is looking to expand its solar cell and module manufacturing capacity to 8.4 GW and 11.1 GW by June 2026.

It is also entering into allied areas like ingots and wafers, battery storage and solar inverters to become one of the largest fully leading integrated renewable energy equipment manufacturers globally.