Rotomag Enertec acquires majority stake in Statcon Energiaa

Rotomag Enertec Limited has acquired a 50.99 per cent stake in Statcon Energiaa Private Limited. With this acquisition, the two companies plan to develop and deploy megawatt-scale BESSs and increase production of indigenous solar inverters. Furthermore, companies aim to carry out research and development of advanced energy solutions using Li-ion batteries and expand into markets of Asia, Africa and the Middle East.