Premier Energies, India's solar company, is targeting Europe and the US, according to its executives

Two senior executives from India's Premier Energies said that the company plans to concentrate on exports, with buyers diversifying their supply chain away from China. This is a major change for the domestically focused solar equipment supplier.

Western companies have been prompted to create new supply chains by tariff?concerns and concerns about over-reliance on a single manufacturing center. This has opened up opportunities for Indian manufacturers. Premier Energies has a fully-booked order book for the next 12-18 months. However, it is expecting to tap into overseas markets more as new capacity becomes available, said Managing Director Chiranjeev Singh Saluja in an interview.

"In the long term, we'll be focusing more on exports," Saluja stated, pointing out plans for a U.S. Solar Cell Plant with partner Heliene, and new opportunities in Europe where certain tenders do not accept Chinese products.

He said that the changing?procurement regulations in Europe reflect a wider?global trend where many countries "do not want to import from China, or want to diversify supply sources." Premier Energies also aims to reduce its dependence on the precious metal silver, which is a key component of solar cells and whose price has been volatile in recent years.

Vinay Rustagi is the chief business officer. "Silver usage has already dropped by 68% in the last five years, and it's expected to fall another 30% in the next five," he said. He attributed this to the'redesign of?cell technology.' He also said that increasing costs are making it more expensive to customers, which is accelerating efforts to reduce its use.

He said that the company was working with universities, suppliers and other institutions in Europe and Asia to develop a copper-based alternative to'silver.' Initial results are expected to be available within 12-18 months.

Rustagi explained that the technology would only require minor changes to equipment if it proved viable. (Reporting by Anuran Sadhu in Bengaluru; Editing by Harikrishnan Nair)

(source: Reuters)