Premier Energies Limited (PEL) has entered into a joint venture agreement with Nuevosol Energy Private Limited to invest in Premier-Green Aluminium Private Limited for setting up an aluminium frame manufacturing business for solar photovoltaic modules.
The proposed joint venture company will engage in foundry and extrusion of high-quality aluminium frames for solar photovoltaic modules, aimed at meeting both domestic and captive requirements. The manufacturing facility will cater exclusively to the Indian market and will feature state-of-the-art infrastructure. Under the agreement, PEL will hold 80 per cent equity in the joint venture entity, while Nuevosol will hold the remaining 20 per cent.