Statcon Energiaa to Accelerate Clean Energy Expansion with Investment from Rotomag Enertec

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 1^st 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.”

About Rotomag Enertec Limited:

Rotomag Enertec Limited (“Rotomag”) 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.

About Statcon Energiaa:

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. With in-house R&D and more than 2,00,000 installations worldwide, the company delivers robust, cost-effective solutions that keep critical infrastructure running. With a strong R&D foundation and a track record of innovation, Statcon Energiaa is poised for rapid growth of its existing product range in Railways, Defence, Oil & Gas and the Utility Segment, apart from Renewable Energy.

Strategic Expansion & Global Vision

With this investment now finalised and signed, both companies are set to pursue an ambitious roadmap that includes:

Development and deployment of next-generation MW-BESS solutions
Scaling of indigenised solar inverter production, especially for hybrid and three-phase on-grid systems
Deepening efforts in the green hydrogen rectifier space
Joint R&D for advanced energy solutions using lithium-ion batteries
Expansion into international markets with a focus on Asia, Africa, and the Middle East

Disclaimer

Rotomag Enertec Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, a public issue of its equity shares in the near future and is in the process of filing a draft red herring prospectus with the Securities and Exchange Board of India. The equity shares have not been and will not be registered under the United States Securities Act of 1933 (the “U.S. Securities Act”) or any other applicable law of the United States and, unless so registered, may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. There will be no public offering in the United States.