Premier Energies Acquires 51% Stake in KSolare Energy for INR 86.7 Cr

Premier Energies Ltd has announced the acquisition of a 51% stake in KSolare Energy Private Limited for approximately INR 86.7 Cr. KSolare Energy, established in 2012, is a Pune-based manufacturer of Solar Inverters and Smart Energy Solutions. The company operates a manufacturing facility in Pune with a production capacity of 500,000 inverters per annum. The acquisition is expected to strengthen India's domestic manufacturing eco-system and advance clean energy goals. The transaction is expected to complete within 90 days, subject to satisfactory completion of the conditions precedent and closing conditions.