Shakti Pumps (India) Limited has invested Rs 110 million in its wholly owned subsidiary, Shakti Energy Solutions Limited (SESL), through subscription to equity shares.
The investment will support the establishment of a greenfield high-efficiency solar domestic content requirement (DCR) cell and solar photovoltaic (PV) module manufacturing plant in Pithampur, Madhya Pradesh, with a production capacity of 2.2 GW. SESL is engaged in the manufacturing of solar structures and solar rooftop solutions and is expanding into the manufacturing of solar DCR cells and solar PV modules. The investment will be made in cash through the subscription of equity shares of SESL.