Indian solar manufacturer Saatvik Green Energy has acquired an 80% stake in Jaipur-based Melcon Transformers and Electricals, expanding into power transmission equipment. This move strengthens the company’s position in a segment closely linked to India’s growing renewable energy sector.
Saatvik Green Energy, an Indian solar manufacturer and EPC supplier, has acquired an 80% equity stake in Melcon Transformers and Electricals, a transformer manufacturer based in Jaipur. The share purchase agreement was signed on April 23, 2026.
Founded in 2005, Melcon designs and produces transformers for energy transmission and distribution. The product portfolio includes oil, dry, auxiliary and energy efficient transformers ranging from 5 kVA to 12,500 kVA, up to 33 kV class, serving a wide range of industrial and utility applications. The company reports a strong repeat order book from public sector companies (PSUs), private and listed companies.
“Our acquisition of Melcon is a strategic step towards strengthening our presence in the energy value chain,” said Prashant Mathur, CEO of Saatvik Green Energy. “By integrating transformer manufacturing, we aim to improve execution speed, ensure quality and build a more resilient and responsive supply chain.
“Transformers provide a crucial link between generation and consumption. Without robust transmission infrastructure, renewable capacity cannot be translated into reliable energy,” he added. “We are evolving from a solar manufacturer to an integrated energy solutions provider, with the aim of supporting and enabling clean energy growth in India at scale.”
India’s renewable energy sector is expanding rapidly, supported by government targets to reach 500 GW of non-fossil fuel capacity by 2030. As deployment accelerates, reliable transmission and efficient distribution networks are becoming increasingly important. The acquisition positions Saatvik to expand its role in this segment.
Saatvik currently operates a 4.8 GW module manufacturing facility in Ambala, Haryana, and is developing a greenfield integrated manufacturing facility in Odisha, with a planned capacity of 4 GW for modules and 4.8 GW for solar cells.
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