Approving the proposed acquisition of New Delhi-based C&S Electric by Siemens Ltd, the Competition Commission of India sets the move to lead the acquisition of 100 percent of the share capital of C&S Electric by Siemens Limited.

With this agreement, Siemens will get to acquire low voltage switchgear components and panels, low voltage and minimum voltage busbars and protection and metering devices of C&S.

C&S’s existing promoters will retain other businesses of C&S Electric, like the medium voltage switchgear and package substation, lighting, diesel generating sets, engineering, procurement, and construction (EPC) business, and the ‘Etacom busbars’.

The signing of the agreement for acquiring C&S Electric Limited by Siemens was completed in January 2020. Through this acquisition, C&S will be able to strengthen Siemen’s position as one of the leading providers of low voltage power distribution and electrical installation technology. This deal is predicted to be worth of almost Rs. 21 billion, an approx. of $280.06 million.

Siemens India focuses on power generation and distribution, infrastructure for buildings, distributed energy systems, and automation and digitalization in manufacturing industries. While C&S Electric was established in 1966, which is into manufacturing of various electrical products like switchgear, power protection, and electrical distribution products. C&S Electric is also into development of grid-connected solar power projects.

In the previous year, Siemens announced the acquisition of the string inverter business of the KACO new energy GmBH, which is a manufacturer of energy-related power electronics. The deal was made for an undisclosed amount. The project development and EPC activities were not part of the acquisition.

The previous years also reported that Greenko Group signed an agreement with Siemens Financial Services (a Siemens division) for 46 percent equity investment in its 200 MW Poovani wind power project in Tamil Nadu. This is the first investment from Siemens to a wind farm in Asia.

Earlier, Mercom reported that Siemens had launched Sinacon PV, a new generation of photovoltaic central inverters that gives an output of almost 5,000 kVA. Siemens’ Kalwa plant, located near Mumbai, which is responsible for the domestic market and export, holds the manufacturing unit.