Marsons to form joint venture with Cleanhill Partners for North America transformer manufacturing

Marsons Ltd has announced its intent to form a joint venture with Cleanhill Partners, a New York-based private equity firm.

Tue 6 Oct 2026

JV Partner

Cleanhill Partners, a New York-based private equity firm

Target Markets

United States and Canada

Transformer Lead Times

exceed 24 months

What the company announced

Marsons Limited has announced its intent to form a joint venture with Cleanhill Partners, a New York-based private equity firm, to accelerate transformer distribution, service and manufacturing operations across the United States and Canada. The update describes this as an announcement of intent, and the disclaimer states that the formation of the joint venture and the matters described are subject to the execution of the Joint Venture Agreement and other definitive documentation and receipt of necessary approvals.

The stated opportunity

• The company says North America faces a significant transformer supply gap, manufacturing capacity remains constrained, and lead times exceed 24 months.
• It says North American utilities, renewable energy developers and other power infrastructure customers are increasingly focused on supply-chain diversification and reliable access to critical transformer equipment.
• A longer-term vision includes full-scale transformer manufacturing in North America.

What Marsons brings

• Marsons is described as an India-based EHV power transformer manufacturer with 70 years of engineering heritage.
• The company says it is currently executing transformer orders for major U.S. renewable energy and utility projects, including GSUs up to 200 MVA and pad-mounted units across multiple locations.
• It operates a 45,000 square-meter manufacturing facility with current annual capacity of 12,000 MVA and an ongoing expansion to 26,000 MVA.
• Marsons states it is the only EHV power transformer manufacturer in Eastern India and the Northeast Region and the largest by installed capacity in the region, with approvals from PGCIL and NTPC.
• Its transformers are rated from 11 kV to 345 kV and beyond.

What Cleanhill brings

• Cleanhill Partners is a private equity firm focused on energy transition and digital infrastructure, investing across power generation, energy storage, grid modernisation and domestic manufacturing.
• The release says the firm recently announced the sale of EPC Power, a designer and manufacturer of power conversion systems for data centers, utility-scale energy storage and microgrids.
• Its portfolio also includes Jule Power, a provider of battery energy storage and integrated high-power charging solutions, and FTC Solar, a provider of solar tracker systems and engineering services.
• The firm says it is led by investors and operators with more than two decades of experience across energy, power and industrials.

How the two sides describe the partnership

Ash Upadhyaya and Rakesh Wilson, Managing Partners at Cleanhill Partners, said the partnership reflects their investment thesis that power infrastructure is essential to meeting North America's growing energy needs, and that Marsons brings proven manufacturing capabilities, strong engineering credentials and established execution in the U.S. market.

Harshvardhan Kotia, CEO of Marsons Limited, said the joint venture gives the company the capital, market reach and operational support to accelerate from project-by-project execution toward becoming a strategic infrastructure partner across North America.

What to keep in mind

• The announcement is of an intent to form a joint venture; the definitive agreement and approvals are described as yet to be executed or received.
• Statements regarding future plans, including the longer-term vision of manufacturing in North America, are described in the release as forward-looking and reflecting current intentions only.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.