Syrma SGS Technology Limited has announced its strategic entry into the renewable energy sector through the acquisition of a 49% equity stake in KSolare Energy Private Limited for ₹83.3 crore. The remaining 51% stake will be acquired by Premier Energies Limited (PEL) for ₹86.7 crore, valuing KSolare at ₹170 crore.
Strategic Joint Venture
This acquisition is part of a new joint venture between Syrma SGS and Premier Energies, designed to strengthen India’s solar manufacturing ecosystem. The transaction, to be completed within 90 days, will be funded through cash consideration by Syrma SGS.
The joint venture board will consist of four directors — two from each partner, with Premier Energies holding the right to appoint the chairman. The collaboration aims to leverage the combined strengths of both companies: KSolare’s solar inverter expertise, Premier Energies’ distribution network, and Syrma SGS’s advanced electronics manufacturing capabilities.
KSolare’s Financial Growth
KSolare has shown robust financial momentum, with revenues increasing from ₹145 crore in FY23 to ₹226 crore in FY24, and an estimated ₹342 crore in FY25. This performance underscores its strong market presence in the solar inverter segment, particularly within the residential and small commercial categories.
Strategic Significance
The move marks Syrma SGS’s diversification into the clean energy domain, aligning with India’s renewable energy objectives under initiatives such as the PM Surya Ghar Muft Bijli Yojana. By entering the solar inverter space, the company aims to capture emerging opportunities in distributed solar power and energy-efficient electronics.
Market Outlook
Industry analysts view this partnership as a significant step in broadening Syrma SGS’s portfolio beyond traditional electronics manufacturing. The joint venture is expected to enhance market penetration, expand manufacturing scale, and unlock new revenue streams within India’s fast-growing solar sector.
With renewable energy adoption accelerating nationwide, this strategic collaboration positions Syrma SGS as a key participant in India’s transition toward sustainable energy solutions.
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