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Shakti Pumps Expands into Solar Cell and Module Manufacturing with 113-Acre Facility in Madhya Pradesh

Shakti Pumps (India) Ltd., a leading solar pump manufacturer, has announced its foray into solar cell and PV module manufacturing through its subsidiary, Shakti Energy Solutions. The company has been allotted 113 acres of land by the Madhya Pradesh Industrial Development Corporation Ltd. (MPIDC) for this purpose.

Key Highlights:

• Location: The new manufacturing facility will be set up at Smart Industrial Township, Sector-7, Pithampur, District Dhar, Madhya Pradesh.
• Production Focus: The facility will manufacture solar cells and PV modules using wafers as input material.
• Strategic Move: This expansion strengthens backward integration, ensuring better control over the supply chain for the company’s solar pump business.

Addressing the DCR Module Shortage

Shakti Pumps has been a key player in the solar pumps segment, where there is a growing demand for DCR (Domestic Content Requirement)-compliant modules, especially under the PM-KUSUM scheme.

In a recent investor call, Chairman Dinesh Patidar highlighted that while the company expects 20-25% growth, a shortage of DCR solar modules has been a limiting factor. To overcome this, in February 2025, Shakti Pumps signed a ?1,300 crore agreement with ReNew Photovoltaic for additional DCR-compliant solar modules for FY 2025-26. This is in addition to existing partnerships with Mundra Solar (Adani) and Premier Energies.

Strengthening Market Position

By investing in solar cell and module production, Shakti Pumps aims to:

• Ensure a stable supply of DCR-compliant modules.
• Reduce dependency on external suppliers.
• Enhance competitiveness in the solar pump market.

This move aligns with India's goal of boosting domestic solar manufacturing, reinforcing Shakti Pumps' leadership in renewable energy solutions.