Premier Energies (PEL) has approved and entered into a joint venture agreement with Nuevosol Energy for investing in Premier Green Aluminium (JV company) for the purpose of business of foundry, extrusion, of aluminium frames for solar photovoltaic modules. As per the JV agreement, PEL will hold 80% of equity in the proposed JV Co. and the balance 20% will be held by Nuevosol.