Shakti Pumps Invests ₹5 Crore In Solar Unit To Build 2.20 GW Plant In Madhya Pradesh

Mumbai: Shakti Pumps is doubling down on its renewable energy ambitions, channeling fresh capital into solar manufacturing as it looks to scale up domestic production capacity.

Expands Solar Capacity

The company has infused Rs. 5.00 Crores into Shakti Energy Solutions Limited (SESL) to establish a greenfield facility focused on solar DCR cells and PV modules. The planned plant in Pithampur will have a production capacity of 2.20 GW, signaling a significant push into high-efficiency solar manufacturing. The investment was completed on the same day through equity shares, reinforcing SESL’s role as a core growth vehicle.

Strong Subsidiary Growth

SESL has been steadily scaling its operations, reporting a turnover of Rs. 216.53 Crores in FY2025, up from Rs. 139.59 Crores in FY2024 and Rs. 99.15 Crores in FY2023. The subsidiary, incorporated in September 2010, currently focuses on solar structures and rooftop solutions. The new plant marks its expansion into manufacturing solar cells and modules, broadening its position in the renewable value chain.

Strategic Manufacturing Push

The move reflects Shakti Pumps’ strategy to integrate deeper into the solar ecosystem. By investing in domestic manufacturing of DCR-compliant cells and modules, the company aims to capture more value within India’s renewable energy supply chain. Management indicated that the investment aligns with its long-term focus on clean energy infrastructure and reducing reliance on imports for critical solar components.

No Regulatory Hurdles

The company noted that no government or regulatory approvals are required for the investment, enabling immediate execution. Since SESL is a wholly owned subsidiary, the transaction does not fall under related party norms, simplifying the process. The phased issuance of equity shares will support ongoing capital requirements for the project.

Shakti Pumps’ latest investment underscores its intent to strengthen its renewable portfolio while tapping into India’s growing demand for locally manufactured solar equipment.

Disclaimer: This article is based on company filings and may contain forward-looking statements. Investors should verify details independently before making decisions.