French company Schneider Electric has decided to infuse Rs 350-400 in its power backup and storage solutions provider and Indian subsidiary Luminous Power Technologies, months after it decided to put off the plan to sell the subsidiary as part of a restructuring drive.

Image Courtesy: Reuters

New Delhi:

Luminous Power has performed exceedingly well during the pandemic, which has pushed the parent entity to give a fresh look at this subsidiary and strengthen its operations further, the company said.

Schneider Electric proposes to use the fresh investment to pursue aggressive growth plans of Luminous, which entail doubling the battery and inverter production capacity, generating new employment opportunities, and ramping up its solar business.