Shakti Pumps Secures 113 Acres for Solar Cell and PV Module Manufacturing Unit

hakti Pumps (India) Limited, a leading manufacturer of energy-efficient pumps and solar solutions, has received a major boost for its renewable energy ambitions. The company announced that the Madhya Pradesh Industrial Development Corporation Limited (MPIDC) has sanctioned 113 acres of land for its wholly owned subsidiary, Shakti Energy Solutions Limited.

The allocated land is situated in Smart Industrial Township, Sector-7, Pithampur, in the Dhar district of Madhya Pradesh. According to the regulatory filing made by Shakti Pumps under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the land will be used to establish a solar cell and PV module manufacturing facility, utilizing wafers as input material.

This development aligns with Shakti Pumps' strategy to strengthen its position in the renewable energy sector. The company has been a key player in promoting solar-powered water pumps and aims to expand its footprint in solar energy manufacturing.

The announcement has been well received by the market, as it signifies Shakti Pumps' commitment to sustainable energy solutions and self-reliance in solar manufacturing. The company is expected to leverage this facility to cater to India's growing demand for solar modules while supporting the government's vision of "Atmanirbhar Bharat" in renewable energy production.

Disclaimer:

This article is for informational purposes only and is based on publicly available disclosures made by Shakti Pumps (India) Limited. It does not constitute financial, investment, or legal advice. Readers are advised to conduct their own research or consult professional advisors before making any investment or business decisions. Neither the author nor the publisher assumes any responsibility for any actions taken based on the information provided in this article.