BuzzHeadlines

ABB India Sells Solar Inverter Business To Marici Solar India For Around Rs 100 Crore

By EFY Bureau
  • ABB India’s solar inverter business had a turnover of Rs 664 crore for the financial year 2019
  • Marici Solar India is an Indian subsidiary of the Italy-based Fimer SpA

ABB India has said that its board has approved the sale of its solar inverter business on slump sale basis to Marici Solar India. The valuation for this deal stood at Rs 100.6 crore. Marici Solar India is an Indian subsidiary of the Italy-based Fimer SpA.

On ninth July last year, the company’s board had granted in-principle approval for the sale of the company’s solar inverter business to Fimer SpA. The business transfer will come to effect from first April 2020 as per the company. ABB India deals in the power and automation business in India.

Turnover of Rs 664 crore

ABB India’s solar inverter business had a turnover of Rs 664 crore for the financial year 2019. This accounted for about nine per cent of the total turnover.

Recently, Ashok Leyland and ABB Power Products have teamed up to develop a pilot electric bus that will work on flash-charge technology. This technology will allow the charging of the battery within seconds as per the company.

- Advertisement -
Loading form…
Previous article
Reliance Jio Announces its Make in India Strategy for 5G and IoT : Report
Next article
Indoor and outdoor LED displays: How are they different?
EFY Bureau
EFY Bureau

Industry's Buzz

Image for representation purpose

Japanese Semiconductor Companies Expand India Presence

Apurba Sen - 0
Japan’s semiconductor companies are expanding equipment, materials, technology and training ties with India as the country builds its chip manufacturing ecosystem and addresses supplier...
LG logo

LG To Supply Integrated Cockpit Electronics For Renault’s First Commercial SDV

Apurba Sen - 0
LG Electronics will supply Renault’s first mass-produced commercial SDV with a unified instrument cluster and infotainment platform, helping consolidate cockpit electronics and reduce system...
Intel

Intel and Applied Materials Team Up to Accelerate Next-Gen AI Chip Processors

Jaydeep Gadhavi - 0
Founding partnership at Silicon Valley’s EPIC Centre targets advanced Foveros 3D packaging, power delivery, and transistor engineering. Intel Foundry and Applied Materials have entered into...
Samsung

Samsung System LSI To Retreat From Automotive APs, Prioritise Higher-Margin Chips

Apurba Sen - 0
Samsung System LSI is reportedly scaling back its in-house automotive AP business to focus on higher-margin image sensors and mobile SoCs, as it seeks...
Ericsson

Ericsson Ramps Up Indian Antenna Production for Global Exports to Europe

Jaydeep Gadhavi - 0
The Swedish OEM expands local manufacturing ecosystem, turning India into an export hub for 5G and AI-ready antenna systems. Swedish telecommunications giant Ericsson has announced...

Learn From Leaders

Does India’s Chip Packaging Growth Need Local Materials At Scale?

Saba Aafreen - 0
What will it take for specialised semiconductor materials manufacturing to grow in India? Packaging volumes will be a key factor as OSAT facilities move...
Ronak Kumar Samantray, Founder, TM2Space Technologies Pvt Ltd.

“Our goal is to build data centres in space.” – Ronak Kumar Samantray, TM2Space

Nidhi Agarwal - 0
A space startup aims to build orbital data centres, letting users run AI models and store data on satellites while also supplying satellite hardware...

India’s Photonics Puzzle Is Finally Coming Together 

Saba Aafreen - 0
Can India turn its scattered photonics capabilities into a stronger industry? A new association aims to connect the ecosystem and strengthen the domestic value...
Jin Bains, CEO, Mini-Circuits

Mini-Circuits CEO Jin Bains on Navigating High-Frequency Component SWaP-C Constraints, Emerging Markets, and Career...

Dilin Anand - 0
In this exclusive, Jin Bains, Chief Executive Officer (CEO) of Mini-Circuits, explains in a conversation with Dilin Anand of EFY about areas of emerging...

India Needs Not a Hundred, But Thousands of Chip Diversified Companies 

Saba Aafreen - 0
Can India build a semiconductor ecosystem beyond fabs? Indiesemic believes thousands of diversified chip companies are needed to make that possible. India’s semiconductor push is...

Startups

Drone-Like Aircraft For Logistics From BluJ Aerospace

Nitisha Dubey - 0
Hyderabad-based BluJ Aerospace is developing indigenous electric and hydrogen-powered vertical take-off and landing (VTOL) aircraft for remote cargo transport. BluJ Aerospace, a Hyderabad-based aerospace startup...
Jash Jetly, Co-founder and CEO of EVE

“The cloud isn’t the only way to run AI. We’re proving it can happen...

Nidhi Agarwal - 0
A startup is building a decentralised AI and communication network that runs across everyday devices instead of centralised cloud servers. In an interview, Jash...
Mohit Gupta, founder and CEO, TYLsemi

Building AI Chips, One Block at a Time 

Saba Aafreen - 0
What if building an AI chip became as simple as assembling reusable blocks? The startup is working to make custom silicon accessible beyond the...
Seema Johar, Co-Founder and Product Director, Compcarta Solutions Pvt Ltd

“We Let Designers Focus on Innovation, Not Infrastructure.”- Seema Johar, Compcarta Solutions

Akanksha Gaur - 0
In an exclusive interview, Seema Johar of Compcarta speaks with EFY’s Akanksha Sondhi Gaur about why setting up an EDA environment can be harder...

Space Solar Secures $1.7m ARIA Contract for Wireless Power Beaming

Jaydeep Gadhavi - 0
Harwell-based firm to develop ground-to-air RF beaming technology for persistent high-altitude platforms. Harwell-based wireless power specialist Space Solar has secured a $1.7 million (£1.3 million)...