Shakti Pumps invests $1.4 million in solar manufacturing

Shakti Pumps (India) Ltd. has invested INR 120 million ($1.4 million) in its solar-focused subsidiary, Shakti Energy Solutions Ltd, in exchange for equity shares to support manufacturing expansion.

From pv magazine India

Shakti Pumps (India) Ltd has invested INR 120 million in its wholly owned subsidiary, Shakti Energy Solutions Ltd, in exchange for equity shares.

Shakti Energy Solutions, incorporated on September 6, 2010, manufactures solar module mounting structures and is expanding into the production of solar cells and modules that comply with domestic content requirements (DCR).

The company is setting up a greenfield high-efficiency solar DCR cell and module manufacturing facility in Pithampur, Madhya Pradesh, with a planned production capacity of 2.2 GW.