Premier Energies, India's second-largest fully integrated Solar Cell and Solar Module manufacturer, has acquired a 51% equity stake in Hyderabad-based Transcon Ind for $56.7 million (INR 5.003 billion), marking its entry into the power transformer segment. The company will subscribe to 1,04,082 equity shares at approximately $543,000 per share (INR 48,069 each).

The acquisition allows Premier Energies to expand its footprint from solar generation into energy transmission, integrating its offerings along the entire power value chain. Transcon, incorporated in August 2025, is taking over a transformer manufacturing partnership firm originally established in 2003.

The deal is expected to create operational and market synergies with Premier Energies' existing solar module business. By leveraging the established brand, marketing channels, dealer networks, and goodwill of both companies, the firm aims to rapidly penetrate the transformer market and scale operations efficiently.

The move reflects a strategic push to become a full-spectrum energy solutions provider, enabling integrated solutions and cross-selling across generation and transmission segments. Analysts note this strengthens Premier Energies' position in India's renewable energy and power transmission sectors.