Swelect Energy Systems has completed the acquisition of 49% of equity share capital and board control in HHV Solar Technologies. The board at its meeting held on January 21, 2013 has informed about the same.
HHV Solar Technologies is a Bangalore based renowned Solar Photovoltaic module manufacturer in India. The company had, earlier on January 08, 2012, decided to invest Rs 22 crore in HHV Solar Technologies.
Swelect Energy was formerly Numeric Power Systems, a major player in the Uninterruptible Power Supply business. Last year, Numeric Power sold its UPS business and decided to concentrate on solar power and was renamed Swelect Energy.