Marsons Limited, an India-based EHV power transformer manufacturer, and New York-based private equity firm Cleanhill Partners have announced their intent to form a joint venture aimed at expanding transformer distribution, services and manufacturing operations across the United States and Canada.
The proposed partnership comes amid a significant transformer supply gap in North America, where manufacturing capacity remains constrained and lead times have exceeded 24 months. The companies said utilities, renewable energy developers and other power infrastructure customers are increasingly seeking supply-chain diversification and dependable access to critical transformer equipment.
Marsons 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. The joint venture combines Marsons’ transformer engineering and manufacturing capabilities and U.S. project experience with Cleanhill’s market network, capital, and operational expertise to address this growing demand. A longer-term vision includes full-scale transformer manufacturing in North America, positioning both companies to address sustained demand from grid modernization, renewable energy infrastructure expansion, and data center power requirements.
Cleanhill Partners invests across power generation, energy storage, grid modernization, domestic manufacturing, and other critical infrastructure supporting growing demand for reliable power. The firm recently announced the sale of EPC Power, a leading designer and manufacturer of highperformance power conversion systems for data centers, utility-scale energy storage, and microgrids. Cleanhill’s portfolio also includes Jule Power, a provider of battery energy storage and integrated high-power charging solutions, and FTC Solar, a leading provider of solar tracker systems and engineering services. The firm’s investments span critical components of the power infrastructure value chain, including energy storage, power conversion, grid technologies, and renewable energy infrastructure.
Marsons Limited is the only EHV power transformer manufacturer in Eastern India and the Northeast Region and the largest by installed capacity in the region. The company 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 holds approvals from PGCIL (Power Grid Corporation of India Limited), India’s primary transmission operator, and NTPC (National Thermal Power Corporation), India’s largest power generator. These approvals reflect the company’s engineering rigor and manufacturing quality standards. Marsons specializes in transformers rated from 11 kV to 345 kV and beyond and is currently executing multiple transformer orders for U.S. renewable energy and utility-scale projects.
“This partnership reflects Cleanhill’s investment thesis that power infrastructure is essential to meeting North America’s growing energy needs,” said Ash Upadhyaya and Rakesh Wilson, Managing Partners at Cleanhill Partners. “Marsons brings proven manufacturing capabilities, strong engineering credentials, and established execution in the U.S. market. Together, we believe we can build a significant platform serving utilities, developers, data centers, and other critical infrastructure customers.”
Harshvardhan Kotia, CEO of Marsons Limited, added: “Cleanhill’s portfolio demonstrates a deep conviction in the infrastructure stack underlying the energy transition and growing energy demand. We are already executing transformers for major U.S. projects and have established customer relationships in the renewable and utility sectors. This joint venture gives us the capital, market reach, and operational support to accelerate from project-byproject execution toward becoming a strategic infrastructure partner across North America.”
