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Excitations of impurity complexes in semiconductors can not only provide a route to fill the terahertz gap in optical technologies, but can also connect local quantum bits to scale up solid-state quantum-computing devices. However, taking into account both the interactions among electrons/holes, and the host band structures, is challenging. Here we combine first-principles band-structure calculations with quantum-chemistry methodology to evaluate the ground and excited states of a pair of phosphorous donors in silicon within s single framework. We use a broken-symmetry Hartree-Fock approach, followed by a time-dependent Hartree-Fock method to compute the excited states. Our Hamiltonian for each valley includes an anisotropic kinetic energy term, which splits the 2p_0 and 2p_+- transitions of isolated donors by ~4 meV, in good agreement with experiments. Our single-valley calculations show the optical response is a strong function of the optical polarisation, and suggest the use of valley polarisation to control optics and reduce oscillations in exchange interactions. When taking into account all valleys, including valley-orbital interactions, we find a gap opens between the 1s to 2p transition and low-energy charge-transfer states within 1s manifolds (which become optically allowed because of inter-donor interactions). In contrast to the single-valley case, we find charge-transfer excited states also in the triplet sector, thanks to the valley degrees of freedom. These states have a qualitatively correct energy as compared with the previous experiments; additionally, we predict new excitations below 20 meV that have not been analysed previously. A statistical average of nearest-neighbour pairs at different separations suggests that THz radiation could be used to excite pairs spin-selectively. Our approach can readily be extended to other donors and to other semiconducting hosts.