Luminous which was founded in 1988 and started off providing Invertor and UPS solutions has since grown to become a power and energy storage company in India delivering high quality Inverters, UPS, Batteries and Renewable Energy Products. The company now has technologies in power electronics, batteries and storage systems, packaged power and renewable energy systems. The company claims to follows its proprietary UGC (Universal Grid Compatibility) process to ensure consistent & very high standard of reliability of its products.
Luminous recently has designed, manufactured and installed off-grid and grid connected wind-solar hybrid power plants. Panchabuta has earlier talked about Luminous’s pioneering effort in small wind turbine business in India and its installation of wind-solar hybrid.
Panchabuta has talked about the huge opportunity for companies such as Luminious in the cell phone tower space and in discussion with some of the senior technical experts from the tower companies is given to understand that the telecom industry is looking for complete hybrid solutions that can match the expectations of the telecom tower infrastructure players and their availability and service levels.
Luminious is well poised to deliver such services given the energy costs for cell phone companies is about 8% of the revenue generated for most operators and power and fuel contributes to about 25% of the total network cost.
We had mentioned in February that it was no surprise that funds like TPG were then looking at a stake in Luminious power.
Although the discussions (with TPG) are at a fairly advanced stage, sources indicate that the company was also examining the possibility of floating an IPO if the private equity option falls through then.
According to reports today, French electrical-engineering and power-management company Schneider Electric , said it will acquire 74 percent of Delhi-based Luminous Power Technologies for around 215 million Euros.
“From a small beginning 20 years ago, Luminous has evolved to become a strong market leader in the inverters and power storage space,” Luminous founder and chairman Rakesh Malhotra said.
“This will help the group ( Schneider) further strengthen its position in India and attain critical size in the fast growing Indian inverter market ” said Laurent Vernerey, executive vice-president at Schneider Electric.
Vernerey said Luminous will also provide a platform to expand the inverter market into other new economies, in particular Middle East, Africa and South-East Asia. After this acquisition, Schneider’s total sales in India will exceed 700 million Euros tripling the sales compared to 2009.
Schinder has been aggressive in acquisitions in the energy efficiency, renewable energy and cleantech space in India. According to reports, Schneider just struck its fourth deal in India in less than two years by inking an agreement with Smartlink Network Systems Ltd and acquiring its structured cabling systems business Digilink for Rs 503 crore ($115 million).
It had earlier acquired Zicom Electronic Security Systems Ltd’s systems integration business for Rs 225 crore. In January this year, Schneider had acquired a majority stake in another listed Indian firm, APW President Systems Ltd, for Rs 62.2 crore. APW designs and manufactures standard and customised racks and enclosure, particularly for IT and telecom firms.