In 1995, Surender Saluja bet on solar energy when it was still in its infancy. Nearly three decades later, his company Premier Energies has become one of India’s leading solar panel manufacturers, achieving great success when it was listed on the stock market.

From humble beginnings to a leading position

Soon after graduating with an engineering degree in 1969, Surender Saluja entered the business world with small projects. In 1995, realizing the potential of solar energy – a sustainable, free source of energy that requires no raw materials – he founded Premier Energies in Hyderabad. In the early days, the company focused on basic products such as solar lanterns and street lights, as well as deploying solar power systems in rural areas without electricity.

In 1999, Premier Energies expanded into solar module manufacturing, marking a major milestone. By 2011, the company had established a solar cell manufacturing line, cementing its position in the industry. Presently, Premier Energies has five manufacturing facilities in Telangana, with a capacity of 2 GW for solar cells and 4.13 GW for solar modules. The company is set to become the second-largest integrated manufacturer in India, after Adani Group's Mundra Solar Energy, and the largest exporter of solar panels to the US in FY24.

Impressive listing on the stock market

With a strong position in the industry, Premier Energies, under the management of CEO Chiranjeev Saluja – son of Surender Saluja – decided to list on the stock market in early 2024. On September 3, the company officially launched with the shares opening at ₹990, a 120% increase over the issue price. At the time of listing, Premier Energies' market capitalization crossed ₹50,000 crore, marking a major step forward for the company.

This success also helped Surender Saluja make his debut on the Forbes India 100 Richest List 2024, ranking 85th with a net worth of $3.7 billion.

The Future of Premier Energies

As one of the pioneers in the renewable energy industry in India, Premier Energies continues to expand its production scale and reach out to international markets. With a strong foundation and long-term growth strategy, the company is seizing the opportunity to contribute to shaping the future of clean energy, not only in India but also globally.