Vinay Rustagi, Chief Business Officer of Premier Energies, said the extension applies only to the corporate solar segment, while the policy continues to remain in force for the residential rooftop and PM Kusum solar pump markets. These two segments are expected to account for the bulk of domestic demand this year.
Rustagi added, “In terms of the industry on the whole also, the corporate demand has just started coming in, and as I said, the we already have a domestic demand for about 20 to 25 gigawatts. Supply today is also pretty much in line. So, because of the marginal relief that has been given, I don’t expect there to be any material impact on any of the domestic manufacturers in this timeline.”
According to Rustagi, the company has already sold its production for the next six months to the residential rooftop and Kusum segments, where contracts and pricing have already been finalised.
The stock was trading at ₹1,089.90 at 12:31 pm on the NSE and has gained more than 3% over the past year.
The executive said the broader policy framework supporting domestic solar manufacturing remains unchanged, giving manufacturers confidence to continue investing across the value chain.
Premier Energies‘ capacity expansion programme is also progressing as planned. The company has already commissioned 5.6 GW of module manufacturing capacity, while its 7 GW cell manufacturing facility is expected to be completed within the next two months. It is also moving ahead with plans to build 10 GW of ingot and wafer capacity between 2027 and 2028.
Rustagi said all planned investments have already been financed, removing the need to raise additional capital for the ongoing projects.
Premier Energies is evaluating its next phase of growth beyond ALMM-III and will reassess its financing plans once those expansion plans take shape
On the policy front, Rustagi said the ALMM framework has been instrumental in strengthening India’s domestic solar manufacturing ecosystem. ALMM List I, which covers solar modules, has helped drive local manufacturing and represents an estimated market opportunity of around ₹80,000 crore.
ALMM List II, covering solar cells, represents an estimated market size of about ₹30,000 crore based on current production levels.
He added that ALMM List III, which covers ingots and wafers, is aimed at developing India’s upstream manufacturing capabilities and reducing import dependence. The policy is expected to be implemented in phases, with rooftop solar, PM Kusum and corporate projects transitioning from June 2028, followed by the utility-scale segment around 2030.
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