Shakti Pumps invests Rs 10 crore in SESL for 2.2 GW solar plant
Shakti Pumps (India) Limited has invested Rs 10 crore in its wholly owned subsidiary, Shakti Energy Solutions Limited (SESL), for setting up a greenfield high-efficiency solar domestic content requirement (DCR) cell and solar photovoltaic (PV) module manufacturing plant in Pithampur, Madhya Pradesh. The proposed facility will have a production capacity of 2.20 GW.
Shakti Pumps had earlier invested Rs 24 crore in SESL in April 2026 for the same manufacturing project, including Rs 17 crore on April 17, 2026 and Rs 7 crore on April 18, 2026.
Subsidiary expansion
SESL, incorporated on September 6, 2010, currently manufactures solar structures and solar rooftop systems. The company is now expanding into solar DCR cell and PV module manufacturing.
The subsidiary reported a turnover of Rs 239.11 crore in FY26, Rs 216.53 crore in FY25, and Rs 139.59 crore in FY24.
Transaction details
Under the transaction, Shakti Pumps invested Rs 10 crore in cash for equity shares of SESL. The company stated that the transaction does not qualify as a related party transaction, although SESL remains a wholly owned subsidiary.
The shareholding of Shakti Pumps in SESL remains unchanged at 100 percent following the investment. The transaction was completed on the same day as the investment.
Strategic context
The investment forms part of Shakti Pumps’ forward integration strategy in the solar manufacturing segment.
DCR cells are manufactured within India using locally sourced wafers and are eligible for government schemes that require domestic sourcing. The proposed 2.20 GW facility is expected to support India’s solar capacity addition targets linked to its renewable energy expansion plans for 2030.
The featured photograph is for representation only.
