Blow to Telangana’s industrial sector: Solar cell manufacturer Premier Energies to move to Andhra Pradesh
The company had initially proposed to set up both a 4 GW cell facility and a 4 GW module facility in Telangana last year and had even applied for building permissions. However, it is now learnt to have opted for Andhra Pradesh instead
Hyderabad: In another blow to Telangana’s industrial growth, Premier Energies Global Environment Pvt Ltd (PEGEPL) has reportedly decided to shift its 4 GW solar PV TOPCon cell manufacturing facility from the Seetharampur Industrial Park in Ranga Reddy district, Telangana, to the Naidupeta Industrial Park in Nellore, Andhra Pradesh.
The company had initially proposed to set up both a 4 GW cell facility and a 4 GW module facility in Telangana last year and had even applied for building permissions. However, it is now learnt to have opted for Andhra Pradesh instead, indicating a growing trend of businesses relocating from Telangana.
Earlier, Corning International Corporation had shifted its unit from Telangana to Tamil Nadu, while Kaynes Semicon relocated its chip assembly unit to Gujarat, among others. The exodus of major companies raises concerns over the State’s declining investment climate.
With industries increasingly shifting to other States, questions loom over the Congress government‘s ability to maintain Telangana’s once-thriving investment ecosystem.
During the BRS regime (2014-2023), Telangana witnessed rapid industrial growth, with over 25,146 industries set up under TG-iPASS, attracting Rs 2.85 lakh crore in investments and generating 18.3 lakh jobs.
Previously, the State consistently attracted 2-3 major investments every month in the industrial and manufacturing sectors. In 2023-24 alone, 2,672 industries had been grounded, bringing in Rs 28,135 crore and creating 84,901 jobs.
Since the Congress government took charge in December 2023, 1,901 units have received approvals, realising Rs 12,626 crore in investments and 49,384 jobs. However, the pace of investment has slowed significantly. Even with pending approvals for 882 units worth Rs 9,646 crore, the total investments this year are expected to fall short of previous figures.
