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Shakti Pumps (India) Limited has announced an investment of ₹30 million in its wholly owned subsidiary, Shakti Energy Solutions Limited, reinforcing its commitment to India’s renewable energy ambitions. The investment has been made through the issuance of equity shares and is aimed at developing a large-scale solar cell and photovoltaic module manufacturing facility under the Domestic Content Requirement (DCR) framework.
The proposed greenfield project will have a manufacturing capacity of 2.20 GW and will be located at Pithampur in Madhya Pradesh, a rapidly emerging industrial hub. The facility will focus on the production of solar cells and modules, supporting the growing demand for domestically manufactured solar components in India’s expanding renewable energy market.
This strategic move aligns with the Government of India’s push for self-reliance in the solar sector, particularly through policies encouraging domestic manufacturing under initiatives such as “Make in India” and “Atmanirbhar Bharat.” By strengthening local manufacturing capabilities, the project is expected to reduce dependence on imports and enhance supply chain resilience.
For Shakti Pumps, the investment marks a significant step in expanding its footprint across the renewable energy value chain. Traditionally known for its energy-efficient pumps and motors, the company is now diversifying into solar manufacturing, enabling it to offer more integrated and sustainable energy solutions.
The solar manufacturing plant is also expected to contribute to regional economic development by generating employment opportunities and attracting allied industries to the Pithampur region. As India accelerates its transition towards clean energy, Shakti Pumps’ latest investment positions the company as a key participant in the country’s long-term renewable energy growth story.