Mumbai, April 24, 2026: Saatvik Green Energy Limited, one of India’s leading solar energy companies, today announced the acquisition of an 80% equity stake in Melcon Transformers and Electricals Private Limited, a Jaipur-based transformer manufacturer. The Share Purchase Agreement was signed on April 23, 2026.
Melcon, incorporated in 2005 operates at the very backbone of the power ecosystem designing and manufacturing transformers that enable reliable transmission and distribution of energy. Its portfolio spans oil-type, dry-type, auxiliary, and energy-efficient transformers ranging from 5 KVA to 12,500 KVA (up to 33 KV class), addressing diverse industrial and utility requirements. Backed by a strong and consistent repeat order book from leading PSUs and reputed private and listed companies, Melcon has built both credibility and scale in a highly technical domain.
Commenting on the development, Mr. Prashant Mathur, CEO, Saatvik Green Energy Limited Said, “India’s energy transition will not be defined by capacity alone, but by the strength of the ecosystem that supports it. At Saatvik, we are building that ecosystem with intent and precision. Our acquisition of Melcon is a strategic step towards deepening our control across the power value chain. By integrating transformer manufacturing, we are not just adding a capability we are enhancing execution speed, ensuring quality assurance, and creating a more resilient and responsive supply chain. Transformers are a critical bridge between generation and consumption. Without robust transmission infrastructure, renewable capacity cannot translate into reliable power. We are consciously evolving from being a solar manufacturer to becoming an integrated energy solutions player one that doesn’t just participate in India’s clean energy growth but actively shapes and enables it at scale.”
The acquisition is expected to create meaningful synergies with Saatvik’s core solar business, including greater supply chain control, better execution efficiency, and the ability to offer more integrated energy solutions to its customers.
India’s renewable energy sector is witnessing unprecedented growth, driven by government targets of 500 GW of non-fossil fuel capacity by 2030. As the country scales up its green energy infrastructure, reliable power transmission and efficient distribution networks become as important as generation. Saatvik’s latest move positions it to play a larger role in this expanding opportunity.
About Melcon Transformers & Electricals pvt ltd
Melcon Transformers and Electricals Private Limited is an ISO 9001-certified manufacturer and exporter of power and distribution transformers up to 10 MVA, 33 kV class, including customized solutions. Founded in 2005 by Er. R.K. Jain, a first-generation entrepreneur and technocrat, and registered with ROC Jaipur, the company has built a strong reputation as a trusted player with a proven track record across India’s power sector.
About Saatvik Green Energy Limited
Saatvik Green Energy Limited is one of India’s leading solar photovoltaic module manufacturers, with a strong presence across utility-scale, commercial & industrial, EPC, and distributed solar segments. The Company currently operates a 4.8 GW module manufacturing facility in Ambala, Haryana, and is developing a Greenfield integrated manufacturing facility in Odisha with 4 GW of module capacity and 4.8 GW of solar cell capacity. With a focus on technology, quality, and execution, Saatvik aims to play a meaningful role in India’s renewable energy transition.
