Shakti Pumps commits Rs 75 crore to 2.2 GW solar manufacturing project

Shakti Pumps (India) Limited has approved an equity investment of Rs 75 crore in its wholly owned subsidiary, Shakti Energy Solutions Limited (SESL), to set up a 2.2 GW solar cell and module manufacturing facility in Madhya Pradesh. The investment marks a significant increase from the earlier proposal and advances the greenfield project.

In a regulatory disclosure, the company stated that the funds will be used to establish a high efficiency Solar Domestic Content Requirement (DCR) cell and Solar Photovoltaic (PV) module manufacturing plant at Pithampur. The revised investment of Rs 75 crore is substantially higher than the Rs 3 crore intent disclosed last week, reflecting the project’s scale-up.

The proposed facility forms part of Shakti Pumps’ wider expansion plan, which includes a capital expenditure programme of Rs 17,000 million to double its pump and motor manufacturing capacity by mid-2026. The move into solar cell and module manufacturing is aimed at securing internal supply while addressing rising demand in the renewable energy market.

SESL, which will receive the investment, is already engaged in the manufacture of solar structures and rooftop solutions. The subsidiary reported a turnover of Rs 216.53 crore in FY25. Shakti Pumps clarified that the investment is not a related party transaction and does not require any additional regulatory approvals.