Rotomag Acquires Majority Stake in Statcon Energiaa
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In a move to accelerate its clean energy mission and global growth, Statcon Energiaa Private Limited (“Statcon Energiaa”) has secured an investment from Rotomag Enertec Limited, which now holds a majority stake in Statcon Energiaa. This investment marks a significant milestone in Statcon Energiaa’s journey, enabling them to scale their indigenously developed solutions. Statcon Energiaa is the 1st Indian company to fully design, manufacture and commercially sell their on-grid solar inverters. Statcon Energiaa’s existing product range also includes power converters for Green Hydrogen, Defence, Railways and Power sectors.
The partnership also aligns with national priorities, especially the “Make-in-India” initiative, clean energy adoption, and the transition to energy independence through domestic innovation.
Statcon Energiaa has also recently finalised a deal with AEG PS, Germany, through which they aim to capture a significant market share in Green Hydrogen rectifiers in India.
Joint Statement by Umesh Balani, Managing Director, Rotomag Enertec Limited, and Manoj Pande, Managing Director, Statcon Energiaa Private Limited:
“Our collaboration brings together complementary strengths in renewable energy and power electronics. Rotomag’s experience in solar pumping and industrial drive solutions, combined with Statcon Energiaa’s proven capabilities in power converter design and manufacturing, enables us to address a broad range of applications across India’s clean energy landscape.”
