Schneider Electric has signed an
agreement to acquire 74 per
cent of Luminous Power
Technologies Pvt Ltd, a market
leader in India that provides
inverters, UPS and power storage
systems to help homes and small
and medium sized businesses face
frequent power cuts.
Luminous is a leading player in
the Indian inverter and power
storage market that is estimated at
5,120 crore and growing by around
20 per cent annually. Luminous has
a strong presence in India and
employs approximately 3,000
people in eight different industrial
sites in India and one in China. It
generated revenues of
11 billion
(€ 170 million) for the fiscal year
ending March 2011.
Luminous brings to Schneider
Electric a strong brand name in the
Indian market for inverters and
power storage and a diverse
product portfolio.
With Luminous, Schneider
Electric will become the leader in the
Indian inverters and secured power
market and gain access to a
complementary retail network, a
statement by Schneider Electric said.