ILJIN Electronics (India) acquires a majority stake in Power-One Micro Systems Pvt. Ltd. to strengthen its position in India's renewable energy sector.

Information on the Target

ILJIN Electronics (India) has successfully acquired a majority stake in Power-One Micro Systems Pvt. Ltd., a prominent player in India's power electronics market. Power-One specializes in providing integrated electrical power and clean energy solutions, including solar inverters, battery energy storage systems (BESS), electric vehicle (EV) chargers, and uninterruptible power supply (UPS) systems. This acquisition enables ILJIN Electronics to expand its offerings in the rapidly evolving energy sector and underscores its commitment to renewable energy initiatives in India.

Industry Overview in India

India's power electronics industry is witnessing significant growth, driven by increased demand for renewable energy technologies and electric vehicles. The government's push for a clean energy transition, including ambitious targets for solar power generation and electric mobility, has created a conducive environment for companies in this sector. As a result, key players are rapidly investing in innovative solutions that align with national goals related to sustainability and energy efficiency.

The market for energy storage systems, particularly battery energy storage, is also experiencing rapid expansion. With the escalating reliance on renewable sources, such as solar power, energy storage solutions are