Syrma SGS Technology and Premier Energies have entered into a joint venture to acquire KSolare Energy Pvt. Ltd., a Pune-based manufacturer of solar inverters, for ₹170 crore.

As part of the JV, Syrma SGS will hold 49% stake, while Premier Energies will hold a 51%. The acquisition marks a strategic move to strengthen India’s domestic solar manufacturing ecosystem, particularly in the growing residential and rooftop solar inverter segment.

KSolare Energy currently manufactures about 0.5M inverters/year, with plans to scale production up to 1M units/year through a brownfield expansion at its Pune facility. The company reported a revenue of approximately ₹342 crore in FY25.

This partnership aligns with India’s renewable energy initiatives, including the PM Surya Ghar Muft Bijli Yojana, supporting the nation’s push for sustainable and self-reliant clean energy solutions.

For Syrma SGS, the collaboration enhances its presence in clean-tech manufacturing and leverages its strengths in design, R&D, and Electronics System Design & Manufacturing (ESDM).

For Premier Energies, it broadens its vertical integration — from solar cells and modules to inverters and energy storage systems.

Deal completion is expected within 90 days, subject to regulatory approvals.