PREMIERENE

** Shares of Premier Energies PEME.NS rise 2% to 1,015 rupees

** Solar cell and module manufacturer's unit gets order worth 27.03 billion rupees ($308.9 million)

** Order includes supply of solar PV cell and modules

** PEME rated "hold" by 5 analysts on average; median target price is 1,110 rupees – data compiled by LSEG

** Stock down 25.2% YTD

($1 = 87.5060 Indian rupees)

(Reporting by Rudra Pratap Singh in Bengaluru)

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By Sudarshan Varadhan and Sethuraman N R

SINGAPORE/NEW DELHI, Aug 28 (Reuters) - High U.S. tariffs and potential anti-dumping duties on Indian solar panel exports will exacerbate a supply glut in India next year as domestic project bidding slows, according to industry officials and analysts.

U.S. President Donald Trump's 50% tariffs on shipments from India will choke panel sales to its top overseas market, which accounts for 90% of module exports, they said.

The situation could deteriorate further if anti-dumping duties are imposed on some manufacturers following a petition filed on July 17 by U.S. solar companies with the Commerce Department seeking duties on imports from India, Indonesia, and Laos.

"The 50% tariff will squeeze margins, and potential anti-dumping duties will make competing in the U.S. even tougher," said Raj Prabhu, CEO of clean energy consultancy Mercom Capital.

India's awards of solar generation projects and new tenders slowed dramatically in the quarter ended June, with an adviser to the federal power ministry urging renewable developers to bid cautiously in line with demand growth projections.

"We expect that India will enter overcapacity stage already in 2026, which will feel even worse with the loss of the U.S. market," said Wood Mackenzie analyst Yana Hryshko.

New Delhi's incentives — including import duties and domestic manufacturing mandates — helped double module production capacity annually to 74 gigawatts by March. State Bank of India Capital Markets projects this will reach 190 GW by 2027.

India's solar module factories are already running at only 25% of total capacity on average, said Vinay Rustagi, chief business officer of manufacturer Premier Energies PEME.NS.

"Some companies are running at 80%-85% like us, others are running at much lower capacity," he said.

CHINA CELL IMPORTS

If anti-dumping duties are imposed, Indian manufacturers must either find alternative markets or supply domestically, Hryshko noted.

Finding new markets will be challenging. Indian solar modules made using Chinese cells are 48% more expensive than China-made modules, while those using Indian cells are roughly 143% more expensive, Mercom data shows.

India has capitalised on an 82% decline in prices of Chinese cells since late 2022 and steadily boosted exports of modules, energy think-tank Ember said.

The local solar module manufacturing push has helped companies such as Waaree WAAN.NS and Adani ADEL.NS increase lucrative U.S. exports. But it has also pushed up solar generation costs, which are passed on to debt-laden power retailers.

India plans to mandate domestic cell use from June 2026, despite these costing over three times more than Chinese alternatives, according to Fei Chen, an analyst at consultancy Rystad Energy.

Analysts say the move may trigger increased Chinese imports before the rules take effect.

"Reliance on cell imports is likely to increase in the short term, potentially leading to stockpiling, price spikes, and supply chain pressures," Mercom's Prabhu said.

(Reporting by Sudarshan Varadhan in Singapore and Sethuraman NR in New Delhi; Editing by Saad Sayeed)

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June 26 (Reuters) - Premier Energies Ltd PEME.NS:

• PREMIER ENERGIES LTD - COMMISSIONS NEW 1.2 GW TOPCON SOLAR CELL LINE

• PREMIER ENERGIES LTD - TO ENHANCE CELL AND MODULE CAPACITY TO 8.4 GW AND 11.1 GW BY JUNE 2026

Source text: ID:nBSEbrzXLS

Further company coverage: PEME.NS

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June 19 (Reuters) - Premier Energies Ltd PEME.NS:

• MAVYATHO VENTURES ALLOTS OCRPS TO PREMIER ENERGIES FOR 10.5 MILLION RUPEES

Source text: ID:nBSE83SLYk

Further company coverage: PEME.NS

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** Premier Energies PEME.NS rises 3.4% to 1,098.10 rupees; set to gain for third straight session

** Solar cell and module manufacturer's 25 mln shares traded in a block deal worth 26.29 bln rupees ($307.4 mln) at 1,051.60 rupees, a 1% discount to last close

** South Asia Growth Fund II Holdings likely to divest up to 25 mln shares of PEME, representing ~5.5% equity, through block deals, CNBC-TV18 reported, citing sources

** Reuters could not immediately ascertain the reason behind the stock's rise

** As on March 31, South Asia Growth Fund II held 11.1% stake in PEME

** YTD, PEME falls ~19%

($1 = 85.5360 Indian rupees)

(Reporting by Vijay Malkar)

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April 3 (Reuters) - Premier Energies Ltd PEME.NS:

• PREMIER ENERGIES LTD- INCORPORATED PREMIER-GREEN ALUMINIUM

• PREMIER ENERGIES LTD- UNIT TO MANUFACTURE ALUMINIUM FRAMES

Source text: ID:nBSE9kxJ5M

Further company coverage: PEME.NS

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** India's Waaree Energies WAAN.NS drops 3.4% to 2,297.25 rupees and Premier Energies PEME.NS sheds 2% to 892.85 rupees

** Bernstein starts coverage on solar module makers with "underperform", citing over supply and risk of higher competition

** Sets PT of 1,902 rupees for WAAN and 693 rupees for PEME

** Globally, demand is ~600 GW, with capacity in excess of 1,200 GW, brokerage estimates

** Adds, in this sector "good return on equity does not last beyond 2 years"

** Moreover, key competitors for WAAN and PEME, have "much bigger wallets", says Bernstein

** Avg rating of three analysts on PEME and WAAN at "hold" - data compiled by LSEG

** WAAN and PEME down 19% and 34% YTD, respectively,

(Reporting by Kashish Tandon in Bengaluru)

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Feb 4 (Reuters) - Premier Energies Ltd PEME.NS:

• CLARIFIES REPORT CO HALTS US SOLAR CELL FACILITY PLANS

• CLARIFIES NO FORMAL NEGOTIATIONS WITH US PARTNER HELAINE USA INC.

Source text: ID:nBSE4lZCpz

Further company coverage: PEME.NS

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By Sethuraman N R

Feb 3 (Reuters) - Indian solar modules maker Premier Energies PEME.NS on Monday said it will put its plan on hold to build a 1 gigawatt (GW) solar cell manufacturing facility in the U.S., after newly-elected President Trump ordered a pause on Biden-era green policies.

Premier and North American solar module maker Heliene had announced a joint venture in July 2024 to build a U.S.-based solar cell manufacturing facility to capitalize on the incentives and tax credits for domestic clean energy manufacturing under the Inflation Reduction Act (IRA).

In January, President Trump ordered a halt to spending related to climate and infrastructure laws from the previous administration, paused tax credits for clean industries, and suspended new offshore wind power leasing, while simultaneously unveiling a plan to maximize U.S. oil and gas production and withdraw from the Paris climate agreement.

"We still have this plan ... We are waiting for the regime in the U.S. to settle down and be clear on what they want to do. As of now, we have only heard and read that the IRA has been paused," Managing Director Chiranjeev Saluja said in an investor call.

"As a company, we have taken a conscious decision not to move ahead until we get full clarity on this topic," he said.

Concerns over U.S. stance on clean energy have weighed on shares of Premier, which have lost about 23% since hitting a peak in December, after listing in September.

Rival solar module maker Waaree Energies WAAN.NS told Reuters last week it is well-prepared to handle potential import tariffs under the Trump administration, leveraging its operations in the state of Texas.

(Reporting by Sethuraman NR; Editing by Tasim Zahid)

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** Premier Energies PEME.NS climbs ~3% to 1,148.65 rupees; set for best intraday gain in a month

** Solar cells maker's units get multiple orders worth 14.60 bln rupees (~$169 mln) for solar modules and cells

** Orders placed by two independent power producers

** Stock up ~37% since listing in September 2024

($1 = 86.5000 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru)

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Updates throughout with valuation, analyst comments, industry and company background

By Nandan Mandayam

Nov 13 (Reuters) - NTPC Green Energy set a price band on Wednesday for its initial public offering (IPO), targeting a valuation of as much as $10.8 billion in what is set to be India's third-largest IPO this year, though analysts raised concerns on the "aggressive" pricing.

The company set a price band of 102-108 rupees per share, aiming to raise 100 billion rupees ($1.19 billion) in the IPO, which trails only Hyundai Motor India HYUN.NS and Swiggy SWIG.NS in size this year.

At the upper end of the range, NTPC Green, a unit of state-owned power company NTPC NTPC.NS, will be valued at 910 billion rupees ($10.78 billion), per Reuters calculations.

The IPO comes as India bets big on renewable power and is ramping up capacity. However, its red-hot IPO market has cooled in the past month due to underwhelming corporate earnings and an exodus of foreign funds.

NTPC Green, which mostly produces solar power and has a few wind energy projects, follows solar panel makers Waaree Energies WAAN.NS, Premier Energies PEME.NS and ACME Solar ACMO.NS to the stock market this year.

Some analysts flagged concerns over NTPC Green's valuation, including on a price-to-earnings (PE) basis.

"The issue appears to be steeply priced for a company that trails its peers on various valuation metrics," said Arun Kejriwal, founder of brokerage Kejriwal Research.

NTPC Green's PE ratio of 148, based on last fiscal year's earnings, is higher than its smaller peers but lags bigger rival Adani Green Energy ADNA.NS (260).

Kranthi Bathini, director of equity strategy at Wealthmills Securities, said the valuation was "aggressive" but the profit growth was attractive.

NTPC Green's profit nearly doubled to 3.45 billion rupees last financial year, per its draft filing.

It will sell all the shares in the IPO -- which will be open for bids from Nov. 19-22 -- and plans to use the proceeds to repay its unit NTPC Renewable Energy's debt.

($1 = 84.4050 Indian rupees)

(Reporting by Nandan Mandayam and Manvi Pant in Bengaluru; Editing by Savio D'Souza)

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Nov 8 (Reuters) - Premier Energies Ltd PEME.NS:

• PREMIER ENERGIES SEPT-QUARTER CONSOL NET PROFIT 2.06 BILLION RUPEES

• PREMIER ENERGIES SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 15.27 BILLION RUPEES

• TO FORAY INTO MANUFACTURE OF ALUMINIUM FRAMES USED IN SOLAR MODULES

Source text: ID:nNSE7v8ySm

Further company coverage: PEME.NS

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** Shares of India's Premier Energies PEME.NS rise 1.6% to 1,093 rupees, set to extend gains to fourth straight session

** Co said its units received multiple orders totalling 5.6 bln rupees ($66.6 mln) for supplying solar modules and cells

** Benchmarks Nifty 50 .NSEI and BSE Sensex .BSESN down 1.6% each, smallcaps .NIFSMCP100 and midcaps .NIFMDCP100 down 2% and 1.5% respectively .BO

** Trading vols 2.7 mln shares vs 30-day avg of 2.4 mln shares

** Since listing in early September, stock has gained 30%

($1 = 84.1100 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru)

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** Shares of solar cell maker Premier Energies PEME.NS rise ~3% to 1140 rupees

** Units get orders worth 7.65 billion rupees ($91 million) for supply of solar photovoltaic cells and modules

** PEME on track for fifth straight session of gains

** Stock up ~36% since listing in early Sept

($1 = 84.0610 Indian rupees)

(Reporting by Dimpal Gulwani in Bengaluru)

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Oct 8 (Reuters) - Premier Energies Ltd PEME.NS:

• UNIT ENTERED INTO A MODULE SUPPLY AGREEMENT WITH BN HYBRID POWER-1

• WILL SUPPLY 173.35 MWP OF SOLAR MODULES

Source text for Eikon: ID:nBSELxZFJ

Further company coverage: PEME.NS

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