Saatvik acquires 80% in Melcon, enters transformer manufacturing

The share purchase agreement was signed on April 23, 2026, the company said, positioning the solar module manufacturer to strengthen its presence across the energy value chain at a time when grid infrastructure is emerging as a critical enabler of renewable capacity expansion.

Melcon, incorporated in 2005, operates a manufacturing facility in Alwar and designs and produces a range of transformers including oil-type, dry-type, auxiliary and energy-efficient units ranging from 5 KVA to 12,500 KVA (up to 33 kV class), catering to both industrial and utility applications.

The acquisition provides Saatvik with a direct foothold in the power transmission equipment segment, which is increasingly linked to India’s renewable energy scale-up. With the country targeting 500 GW of non-fossil fuel capacity by 2030, demand for reliable transmission and distribution infrastructure is expected to rise in tandem with generation capacity.

Commenting on the development, 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.” He added that the acquisition is aimed at strengthening the company’s position across the 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,” Mathur said.

The company said the move would enable better supply chain control and improve execution efficiency, while also allowing it to offer more integrated energy solutions to customers. “Transformers are a critical bridge between generation and consumption. Without robust transmission infrastructure, renewable capacity cannot translate into reliable power,” Mathur noted.

Melcon has an established presence in the transformer manufacturing space with a consistent order book from public sector undertakings and private companies, providing Saatvik with an operational base in a technically intensive segment.

The acquisition also reflects a broader trend of renewable energy firms expanding into allied infrastructure segments as India accelerates clean energy deployment. Saatvik, which currently operates a 4.8 GW solar module manufacturing facility in Ambala, is also developing an integrated manufacturing facility in Odisha with 4 GW module and 4.8 GW solar cell capacity, further strengthening its upstream capabilities.