ABB India Sells Solar Inverter Business To Marici Solar
ABB India Limited's Board directors has approved the company's proposal of selling solar inverter business to Marici Solar India Private Limited, an Indian subsidiary of Italian Company, FIMER. The value of the transaction is Rs.100.6 Cr. This business transfer will be effective April 1, 2020. For the Financial Year, 2019 the solar inverter business is approximately 9% of the total turnover of the company.