Consul expands into solar power

INDIA: Consul Consolidated Pvt. Ltd, a leading Indian manufacturer of UPS systems and voltage stabilizers, announced acquiring a controlling stake in Megatech Power Equipments Ltd, a leading solar power pack, inverter and UPS manufacturer based in Pune.

Addition of Megatech will enable Consul to further strengthen its business in the Indian power electronics market. At the recently held Soft Disk (SD) 2012 awards, the only award for the Indian UPS (Uninterrupted Power Supply) industry, CONSUL was ranked as the No. 2 Power Electronics Company (PEC) in India.

Sriram Ramakrishnan, CEO, Consul Consolidated said: “Megatech gives us access to a range of innovative power electronic products like off-grid solar inverters and solar power conditioning units (PCUs) which are developed for Indian power and site conditions, tested and approved to IEC standards. Megatech has an installation base of over 2MW off-grid solar installations in India,providing us a solid reference base to offer robust solar power products to our customers across India”.

N.P. Krishnan, promotor director, Consul Consolidated, said: “In this journey of over 30 years, we are at yet another exciting milestone now. This synergy provides a great platform to grow at a much faster pace, and be India’s leading power solutions provider. Our dream is to become an ‘Indian MNC’ in the next few years”.

Radhakrishnan Nair, director and promoter, Megatech, said: “At Megatech, we have always focused on developing reliable and innovative power electronic solutions like the Emergency Lift Operating System (ELOS) for providing a green, cost effective power backup alternative for elevators in high-rise buildings instead of diesel gensets. Our focus has always been on product development and recently we were recognized as a registered R&D facility by the Department of Scientific and Industrial Research, Ministry of Science and Technology, Government of India.”

Consul will leverage Megatech’s power electronics product development capability with further investments in R&D and develop it as the power electronics center of excellence for Consul. With the increasing problems due to power outages and quality of delivered power in India, a strong focus on product development and innovation will enable Consul to offer reliable and cost effective power conditioning and power backup solutions tailored for Indian requirements.

The power conditioning and backup market presents an enormous potential with current estimate as per the recent statistics showing that the Indian power conditioning and backup market is poised to cross 10,000 crores by 2017-18. This represents an exciting growth opportunity that Consul will tap through investment in technology, expansion of manufacturing, addition of distribution channels and acquisition of companies with unique offerings.

Consul, with its newly launched products and solutions, will capitalize on the growing demand for  power conditioning and power backup in the country.Consul also plays a key role in providing green off-grid and on-grid solar power solutions to deliver a superior portfolio of product and solutions to customers.