Statcon Energiaa today announced it has secured an investment from Rotomag Enertec to scale its indigenously developed solutions and accelerate global growth. With this investment, Rotomag Enertec now holds a majority stake in Statcon Energiaa.
Statcon Energiaa manufactures and commercially sells its indigenously designed on-grid solar inverters. Its existing product range also includes power converters for green hydrogen, defence, railways and power sectors.
With this investment now finalised and signed, both companies look to develop and deploy next-generation MW-scale BESS solutions; scale indigenised solar inverter production, especially for hybrid and three-phase on-grid systems; deepen efforts in the green hydrogen rectifier space; undertake joint R&D for advanced energy solutions using lithium-ion batteries; and expand into international markets with a focus on Asia, Africa, and the Middle East.
Statcon Energiaa
The latest development follows Statcon Energiaa’s recent deal with Germany’s AEG PS as it aims to capture a significant market share in green hydrogen rectifiers in India.
The Rotomag-Statcon Energiaa collaboration brings together their 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,” said Umesh Balani, managing director, Rotomag Enertec Ltd, and Manoj Pande, managing director, Statcon Energiaa, in a joint statement.
Rotomag Enertec is a manufacturer, supplier, and installer of industrial drive solutions (comprising motors, gearboxes and drivetrains) and solar products like solar pumps, solar pumping systems, and inverters and battery energy storage systems in India. It has installed solar pumping systems in 16 states of India.
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