India based Premier Energies has commissioned 400 MW solar cell manufacturing facility in Telangana as part of its INR 11,000 crore (~ $1.20 billion) expansion plan. The Hyderabad-based company increased its solar cell capacity from 3.2 GW to 3.6 GW with the commissioning of a mono PERC cell line at E City, Maheeshwaram. The company aimed to expand annual solar cell and module capacities to 10.6 GW and 11.1 GW, respectively by 2028. It operated 5.1 GW of module capacity at its Hyderabad facilities. The expansion was funded through INR 1,300 crore (~ $141.93 million) from its IPO, a INR 2,200 crore (~ $240.19 million) debt arrangement with IREDA and internal accruals. The company also planned entry into ingot and wafer manufacturing to improve supply chain control and reduce import dependence.