In a major step toward strengthening India’s clean energy ecosystem, Premier Energies Limited and Syrma SGS Technology Limited have announced the acquisition of KSolare Energy Private Limited, one of the country’s leading solar inverter manufacturers.
Under this deal, Premier Energies will hold a 51% stake, while Syrma SGS will own 49%, with a combined investment of ₹170 crore. The move marks both companies’ entry into India’s fast-growing residential solar inverter segment, directly supporting the PM Surya Ghar Muft Bijli Yojana.
🌞 Why This Acquisition Matters
With solar rooftops rapidly becoming a household trend in India, this partnership couldn’t have come at a better time. The Government’s PM Surya Ghar initiative aims to bring solar power to millions of homes, and the need for high-quality, affordable inverters is skyrocketing.
By joining forces, Premier Energies and Syrma SGS are not just investing in a company—they’re investing in India’s clean energy future.
⚙️ About KSolare Energy
Founded over 13 years ago, KSolare Energy has built a strong reputation in the solar inverter market. The company’s manufacturing facility in Pune has a capacity of 500,000 inverters per year, specializing in on-grid, off-grid, and hybrid models mainly for the residential segment.
In FY 2025, KSolare recorded revenue of ₹342 crore, proving its strong position in the growing solar industry.
🏭 Plans for Expansion
Post-acquisition, the new joint venture plans to set up a brownfield manufacturing facility in Pune, doubling production capacity to one million inverters annually.
The collaboration brings together two strengths:
- Premier Energies’ vast solar network and deep expertise in renewable energy.
- Syrma SGS’s advanced electronics design and manufacturing capabilities.
Together, the companies plan to deliver next-generation inverter solutions made in India—for India.
💬 What the Leaders Said
Chiranjeev Saluja, Managing Director & CEO of Premier Energies, shared,
“This partnership represents a pivotal step in strengthening India’s domestic manufacturing ecosystem and advancing our clean energy goals. We want every rooftop under the PM Surya Ghar initiative to have access to Indian-made, high-quality inverters.”
Jasbir Gujral, Managing Director of Syrma SGS, added,
“This collaboration reinforces our commitment to building India’s clean energy future through reliable and advanced manufacturing. By combining our expertise with Premier’s leadership in solar, we’ll create affordable, cutting-edge inverter platforms for residential users.”
Sunil Sinnarkar, Founder & Managing Director of KSolare, will continue as Executive Director to ensure a smooth transition and drive growth in the combined business.
⚡ About the Companies
Premier Energies Limited
- One of India’s leading solar cell and module manufacturers with a 30-year track record.
- Currently scaling up to a 10 GW fully integrated solar manufacturing capacity (from wafers to modules).
- Recently expanded into battery storage and is known for its focus on innovation, sustainability, and employee culture.
- Reported ₹6,652 crore revenue in FY 2025 and has been Great Place to Work-certified for four consecutive years.
Syrma SGS Technology Limited
- A major player in Electronics System Design and Manufacturing (ESDM) with over two decades of experience.
- Operates 14 manufacturing facilities across India and Germany.
- Serves industries like automotive, industrials, healthcare, and consumer electronics.
- Reported ₹3,800 crore consolidated revenue in FY 2025.
- Recently ventured into PCB manufacturing in Andhra Pradesh with South Korea’s Shinhyup Electronics.
🌍 Powering the Future
This acquisition isn’t just a business move—it’s a sign of how India’s renewable energy market is maturing. By combining solar innovation with electronic engineering, Premier Energies and Syrma SGS are positioning themselves at the heart of India’s rooftop solar revolution.
As the PM Surya Ghar scheme continues to push solar adoption nationwide, this collaboration promises to bring affordable, reliable, and locally manufactured inverters to homes across India—lighting the path toward a greener, energy-independent future.
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