Shakti Pumps (India) Limited has announced an investment of ₹11,00,00,000 (Rupees Eleven Crores) in its wholly-owned subsidiary, Shakti Energy Solutions Limited. This capital infusion is earmarked for establishing a new greenfield manufacturing plant in Pithampur, Madhya Pradesh. The plant will focus on producing high-efficiency Solar DCR cells and Solar PV modules, with an initial production capacity of 2.20 GW.
Strategic Investment in Solar Manufacturing
Shakti Pumps (India) Limited has disclosed a significant investment of ₹11,00,00,000 (Rupees Eleven Crores Only) into its wholly-owned subsidiary, Shakti Energy Solutions Limited. This move signifies a strategic expansion into the renewable energy sector through the establishment of a new manufacturing facility.
New Greenfield Plant Details
The investment is designated for setting up a greenfield high-efficiency Solar DCR cell and Solar PV modules manufacturing plant. This facility will be located in Pithampur, Madhya Pradesh. The plant is projected to have an initial production capacity of 2.20 GW, positioning Shakti Pumps to capitalize on the growing demand for solar energy solutions.
Subsidiary and Industry Focus
Shakti Energy Solutions Limited, a wholly-owned subsidiary, is already involved in the manufacturing of Solar Structures and Solar Rooftop systems, having been incorporated on September 6, 2010. The projected turnover for SESL for FY26 is stated as Rs. 239.11 Crores. This expansion into solar module manufacturing represents a diversification and a significant step forward for the company within the solar energy value chain.
Financials and Future Outlook
The company anticipates that this investment will lead to increased production and sales in the renewable energy segment. The provided turnover figures for the subsidiary in previous years indicate steady growth, with Rs. 139.59 Crores in FY24, Rs. 216.53 Crores in FY25, and a projected Rs. 239.11 Crores for FY26. The investment is made in consideration of cash, by subscribing to equity shares of the target entity.
Source: BSE
