Founded in 2012, KSolare Energy manufactures on-grid, off-grid, and hybrid solar inverters, primarily for the residential market. It operates a Pune-based facility with a capacity of 500,000 inverters per year and reported FY25 revenue of Rs 342 crore.

The acquisition marks the entry of both companies into the residential solar inverter segment, in line with the government’s PM Surya Ghar Muft Bijli Yojana. They plan to set up a new brownfield plant in Pune, which will double production capacity to one million inverters annually.

After the transaction, Premier Energies will hold two board seats and the chairmanship, while Syrma SGS will nominate two directors. KSolare founder Sunil Sinnarkar will join as executive director of the combined entity. The deal, funded through cash consideration, is expected to close within 90 days, subject to customary approvals.

Premier Energies is a leading Indian manufacturer of solar cells and modules, expanding toward a fully integrated 10 GW capacity across ingots, wafers, cells, and modules. The company is also entering the battery storage business and is known for its focus on technology innovation and sustainability.

Syrma SGS Technology is one of India’s leading electronics system design and manufacturing (ESDM) firms, offering end-to-end solutions across design, production, and lifecycle management. It serves sectors such as industrials, automotive, healthcare, and consumer electronics, operating 14 manufacturing facilities across India and Germany. Syrma SGS is also expanding into PCB manufacturing in Andhra Pradesh through a joint venture with Shinhyup Electronics of South Korea.