Zetwerk extends its influence in the electrical and sustainable energy production industry through the acquisition of KRYFS Power Components.
Zetwerk and KRYFS Form Strategic Partnership to Boost India's Electrical and Renewable Energy Manufacturing
Zetwerk Manufacturing Businesses Pvt Ltd, a leading digital manufacturing platform, has acquired a controlling stake in KRYFS Power Components Ltd, a leading producer of transformer solutions in India. This partnership aims to strengthen India’s power infrastructure and support the energy transition.
KRYFS is the only Indian firm to produce 765 kV class transformer laminations and transformer tanks. Their facilities, which are NABL-accredited and approved by POWERGRID for projects up to 765 kV, operate 10 plants across India.
The integration of KRYFS with Zetwerk promises improved supply continuity, digitally enhanced quality, and expanded offerings such as CNC machined parts, solar modules, and substation fabrication. Zetwerk’s global network will provide KRYFS access to advanced manufacturing tools, predictive maintenance systems, and international project exposure.
Amrit Acharya, CEO and Co-founder of Zetwerk, stated that the acquisition deepens their promise in the energy transition space. Saif Qureishi, CEO and Managing Director of KRYFS, stated that the partnership brings together the strengths of a 33-year-old industry leader and a dynamic seven-year-old new-age company.
With India projected to invest USD 330 billion in power and energy infrastructure by 2030, the partnership aims to capture a significant share of a domestic transformer market expected to double to USD 4.2 billion within the decade. Toyota Tsusho Corporation, a long-standing strategic partner of KRYFS, will continue its association with the company.
Srinath Ramakkrishnan, COO and Co-founder of Zetwerk, noted that KRYFS brings a legacy of engineering depth and trust that perfectly complements Zetwerk’s speed, scale, and digital execution. Zetwerk’s Rs 600 crore investment through Creovate Innovations Pvt Ltd will bolster this partnership.
In summary, the Zetwerk-KRYFS partnership marks a significant expansion in India’s electrical and renewables manufacturing sector, leveraging digital innovation and domain expertise to drive the next generation of infrastructure solutions. This partnership is positioned as a step towards building a reliable, efficient, and scalable industrial foundation for India’s electrification and renewable energy goals, targeting both domestic and international markets.
- This strategic partnership between Zetwerk and KRYFS, grounded in the renewable energy industry, aims to boost the growth of India's electrical and renewable energy manufacturing sector.
- With Amrit Acharya's promise of deeper integration in the energy transition space and Saif Qureishi's fusion of industrial legacy with new-age dynamism, the partnership seeks to capture a significant share of the growing domestic transformer market.
- The partnership will leverage innovation in finance, manufacturing tools, and predictive maintenance systems to digitally enhance quality and supply continuity, as well as expand offerings into CNC machined parts, solar modules, and substation fabrication.
- The investment of Rs 600 crore by Creovate Innovations Pvt Ltd, an affiliate of Zetwerk, will provide the necessary financing to fuel the growth of this partnership, targeting both domestic and international markets, and contributing to India's aim of investing USD 330 billion in power and energy infrastructure by 2030.
