Shakti Pumps (India) Limited has announced an investment of INR 10 crore in its wholly owned subsidiary, Shakti Energy Solutions Limited (SESL), to support the establishment of a greenfield solar manufacturing facility in Pithampur, Madhya Pradesh.
The investment will be utilized for setting up a high-efficiency Solar Domestic Content Requirement (DCR) cell and Solar PV module manufacturing plant with a planned production capacity of 2.20 GW. The company disclosed the development through a regulatory filing submitted to the stock exchanges.
Shakti Energy Solutions Limited, a wholly owned subsidiary of Shakti Pumps incorporated in September 2010, currently operates in the solar structures and rooftop solar segment and is now expanding into solar cell and module manufacturing. The company reported a turnover of INR 239.11 crore in FY26, compared to INR 216.53 crore in FY25 and INR 139.59 crore in FY24.
According to the filing, the investment will be made through the subscription of equity shares issued by the subsidiary. Since the transaction involves a wholly owned subsidiary, Shakti Pumps stated that it does not qualify as a related-party transaction under applicable regulations.
The proposed facility is expected to strengthen domestic solar manufacturing capabilities and support India’s efforts to expand local production of solar photovoltaic components under the country’s clean energy and self-reliance initiatives.
The company noted that no governmental or regulatory approvals are required for the investment, and the transaction is expected to be completed on the same day.
