Inverter maker Su-Kam is planning to invest around Rs 300 crore to launch solar- and wind-powered inverters and storage devices for domestic customers.
“We are looking at acquiring a solar panel firm as well as enhance capacity of our existing plants to start manufacturing solar-powered inverters,” Kunwer Sachdev, managing director, Su-Kam, said.
The company has a war chest of Rs 100 crore for acquiring firms manufacturing solar panels. Su-Kam will invest another Rs 200 crore in the solar sector over the next three years to develop and design new products.
The privately-held company, which has investors such as Anil Ambani’s Reliance Group and Temasek Holdings on board, will fund the buy through internal accruals.