Amber Group to Acquire Majority Stake in Power-One Micro Systems Pvt. Ltd

Amber Group, through its subsidiary ILJIN Electronics India Pvt Ltd, has entered into definitive agreements to acquire a majority stake in Power-One Micro Systems Pvt. Ltd. Power-One, established in 1998, is a leading solar inverter company offering a wide range of products including on-grid, off-grid, and hybrid solar inverters, UPS systems, solar power plants, EV chargers, and Battery Energy Storage Systems (BESS). The company caters to marquee public sector clients like HAL, BHEL, BEML, NTPC, PGCIL, as well as several leading private sector enterprises including Tata Group, L&T, Aditya Birla Group, Renew power and Jackson. The acquisition is expected to strengthen Amber Group's position in the Battery Energy Storage Systems (BESS), solar inverters, EV chargers, UPS, and solar power plants market, contributing to India's commitment to achieve sustainability in the power sector and transitioning towards renewable energy sources.