Premier Energies Limited has approved the incorporation of a wholly-owned subsidiary in Singapore, named ‘PE Horizon Pte. Ltd.’ or a similar approved name. This move aims to facilitate operations in the clean energy industry, including trading, management consulting, and ancillary activities. The company will invest up to SGD 1,00,000, with an initial investment of SGD 10,000. Additionally, an intra-group shareholding reorganization was approved, transferring Premier Energies Storage Solutions Private Limited to Premier Battery Technologies Private Limited via a share swap.
Premier Energies Establishes Singapore Subsidiary
In a strategic move to bolster its presence in the global clean energy sector, Premier Energies Limited’s Board of Directors has approved the incorporation of a wholly-owned subsidiary in Singapore. The new entity, provisionally named ‘PE Horizon Pte. Ltd.’, will focus on business activities within the clean energy industry, encompassing trading, management consulting, and related ancillary services.
Overseas Investment and Expansion
The company plans an Overseas Direct Investment of up to SGD 1,00,000 (Singapore Dollars One Lakh) in one or more tranches into the Singapore subsidiary. The initial investment will be SGD 10,000 (Singapore Dollars Ten Thousand), comprising 10,000 ordinary shares, representing 100% of the subsidiary’s share capital. This expansion signals Premier Energies’ commitment to growing its international footprint in the renewable energy and energy storage markets.
Intra-Group Reorganization
In parallel, the Board also sanctioned an intra-group shareholding reorganization. The Company’s entire stake in its wholly-owned subsidiary, Premier Energies Storage Solutions Private Limited (PESSPL), will be transferred to another subsidiary, Premier Battery Technologies Private Limited (PBTPL). This transfer will be executed via a share swap, with the consideration being equity shares issued by PBTPL to Premier Energies Limited. Consequently, PESSPL will become a step-down subsidiary of Premier Energies, and PBTPL will serve as an intermediate holding company. This move aims to consolidate the company’s battery and energy storage-related businesses under a single structure and simplify its corporate holding framework. The transaction is expected to have no impact on the company’s ultimate beneficial ownership or control.
Source: BSE
