Swelect Energy Systems Limited has announced the complete acquisition of 49 per cent of equity and board control in HHV Solar Technologies Private Limited, Bangalore, a solar photovoltaic module manufacturer.
The 49 per cent equity in HHV Solar has been bought for a consideration of Rs 22 crore.
As per the agreement, Swelect Energy will assume board control and R Chellappan, Managing Director of Swelect Energy has been appointed as the CEO of HHV Solar.