Rotomag acquires majority stake in Statcon Energiaa

In a move to accelerate its clean energy mission and global growth, Statcon Energiaa Private Limited has secured an investment from Rotomag Enertec Ltd, which now holds a majority stake in Statcon. This investment marks a significant milestone in Statcon Energiaa’s journey, enabling them to scale their indigenously developed solutions.

Statcon Energiaa claims to be the first 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 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.

Umesh Balani, MD of Rotomag Enertec and Manoj Pande, MD of Statcon said in a joint statement, “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.”

Rotomag Enertec is a manufacturer, supplier, and installer of industrial drive solutions (comprising motors, gearboxes and drivetrains) and solar products (comprising solar pumps, solar pumping systems, and inverters and battery energy storage systems) in India. Rotomag has installed solar pumping systems in 16 states of India and has set up a robust two-tier installation network consisting of 11 project partners at the upper tier and 346 installation partners at the lower tier.

Statcon Energiaa is an Indian manufacturer of power-converters catering to Defence, Railways, Solar, Utility and Green Hydrogen sectors. They have a legacy of 37+ years of technology excellence in designing and manufacturing equipment for static energy conversion, covering a broad spectrum of power, especially Static Converters/ Rectifiers.