In it efforts to acquire a solar panel maker Su-Kam Power Systems is in the final stages of negotiations and an announcement to this effect is likely by the end of next month. The planned acquisition will help the inverter major to own manufacturing capacity of panels to become a major player in solar energy applications.
Su-Kam Power Systems Managing Director and CEO Kunwer Sachdev said the company is looking to acquire a panel manufacturing company. It is in the final stages of negotiations with one domestic firm, which has production capabilities. The company has launched solar inverters, which charges the battery with solar energy, and offers products with a wide range, he added.
Without specifying, he said the discussions are at final stages and the announcement is likely by the end of March. When asked about the possible size of the acquisition, Sachdev said the firm is yet to finalise it, but it will be less than Rs 100 crore.
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