AEG Power Solutions sells Indian facility to Toshiba Mitsubishi


AEG Power Solutions has sold its Indian subsidiary, AEG Power Solutions India, to Tokyo-based Toshiba Mitsubishi-Electric Industrial Systems Corporation (TMEIC).

A joint venture between Japanese conglomerates Toshiba and Mitsubishi, TMEIC acquired 100% of AEG’s Indian unit as it expands its activities in the Indian market.

The Indian facility focuses primarily on the manufacturing of solar inverters for the Indian market. The production site in Bangalore has a production capacity of 400 MW a year.

The sale of the unit includes both manufacturing and sales and represents annual revenues of €12.39 million ($17.17 million) and 85 employees.

The sale is part of AEG’s ongoing restructuring efforts and concentration on its core areas of competitive strength, the company said.

"The AEG PS Group is continuing to concentrate its scope and efforts on its core businesses and markets," said Jeffrey Casper, AEG’s executive vice president. "This divesture is a significant milestone in the ongoing reorganization process of AEG Power Solutions."

Popular content

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact:


Related content

Elsewhere on pv magazine...

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.