Saatvik Green Energy acquires 80% stake in Melcon Transformers and Electricals

Indian solar manufacturer Saatvik Green Energy completed an 80% equity acquisition of Jaipur-based transformer manufacturer Melcon Transformers and Electricals on April 23, 2026. The Share Purchase Agreement formalized the transaction, which grants Saatvik a strategic manufacturing footprint in power transmission equipment critical to India's renewable energy expansion. Melcon, incorporated in 2005, specializes in designing and manufacturing oil-type, dry-type, auxiliary, and energy-efficient transformers ranging from 5 kVA to 12,500 kVA (up to 33 kV class), serving industrial and utility sectors with a repeat order book from leading PSUs and private companies. The acquisition positions Saatvik to deepen its control across the power value chain, integrating transformer manufacturing to enhance execution speed, quality assurance, and supply chain resilience. Prashant Mathur, CEO of Saatvik Green Energy, emphasized that transformers are a critical bridge between generation and consumption, stating that robust transmission infrastructure is essential for renewable capacity to translate into reliable power. The deal aligns with Saatvik's evolution from a solar module manufacturer to an integrated energy solutions provider, supporting India's clean energy growth targets of 500 GW of non-fossil fuel capacity by 2030.

Counterparts (2)

Seller

Melcon Transformers and Electricals

company · 1 deals

Rajasthan-based manufacturer and exporter of power and distribution transformers up to 10MVA, 33kV class, serving domestic and international markets with a focus on energy-efficient and custom transformer solutions.

Buyer

Saatvik Green Energy

company · 2 deals

New Delhi-based renewable energy developer established in 2015, specializing in utility-scale, commercial, and residential solar PV projects across India. The company provides end-to-end solutions from design to maintenance and has developed over 100 MW of solar capacity.