Premier Energies, Syrma SGS Acquire KSolare for ₹170 Cr

In a significant advancement of India's solar manufacturing ecosystem, Premier Energies Limited and Syrma SGS Technology Limited have finalized their agreements to jointly acquire KSolare Energy Private Limited, a leading solar inverter manufacturer in India, for ₹170 crore.

The deal will result in Premier Energies owning 51% of the company while Syrma SGS will own 49% of the equity.

KSolare has been in operation for over 13 years and has established itself as a premier player in the solar inverter market, having generated ₹342 crore of revenue in FY2025. KSolare, which is headquartered in Pune, has an annual facility capability of producing 500,000 solar inverters to offer complete on-grid, off-grid, and hybrid inverter offerings for the residential sector.

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“This acquisition represents a major step towards strengthening India’s domestic solar manufacturing ecosystem,” said Chiranjeev Saluja, MD & CEO, Premier Energies. “This collaboration highlights our commitment to advancing India’s clean energy goals through robust manufacturing and innovation. Together with Premier Energies, we will bring cost-effective, next-generation inverter platforms to India’s growing residential sector,” said Jasbir Gujral, MD of Syrma SGS.

This acquisition allows both companies to enter India's rapidly expanding residential solar inverter market, driven by the Government’s PM Surya Ghar Muft Bijli Yojana. To prepare for the expected growth in demand, the two partner companies will establish a new brownfield facility in Pune to double the annual capacity of KSolare from 500,000 to 1 million solar inverters.

The partnership merges Premier Energies' established solar distribution network, with Syrma SGS's electronics-manufacturing experience, in order to create an alliance with scalable growth potential. Sunil Sinnarkar, Founder and Managing Director of KSolare, will join the new entity as Executive Director to provide operational continuity.