Schneider Electric acquires 74% stake in Luminous
Schneider Electric has signed an agreement to acquire a 74% equity in Luminous Power Technologies, a provider of inverters, UPS and power storage systems in the Indian market. Luminous is a player in the €800 million Indian inverter and power storage market that is growing at more than 20% a year. The company has a strong presence in India and has a workforce of 3000 employees in eight different industrial sites in India and one in China. With Luminous, Schneider Electric will become the leader in the Indian inverters and secured power market and gain access to a complementary retail network.
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