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Shakti Pumps partners with ReNew Photovoltaic for Rs 1,300 crore supply of DCR cell-based solar modules

Feb 03, 2025•over 1 year ago

Contract Type

partnership

PithampurManufacturingEnergyRenewable EnergySolar

Description

Shakti Pumps has announced a significant partnership with ReNew Photovoltaic Private Limited, securing an additional supply of Rs 1,300 crore worth of domestically manufactured (DCR) cell-based solar modules for the financial year 2025-26. This collaboration aims to bolster Shakti Pumps’ growth trajectory and strengthen its leadership in the renewable energy sector.

Company Information

Company

Shakti Pumps India Limited

Location

Pithampur, Madhya Pradesh, India

About

Shakti Pumps India Limited (SPIL) was founded in 1982 as a partnership firm and later converted to a public limited company in 1995. It manufactures solar pumps, energy-efficient stainless-steel submersible pumps, pressure booster pumps, pump-motors, and other products. SPIL said that it is the only company that manufactures a wide range of products for solar pump installation in-house, including Variable Frequency Drives, Structures, Motors, Inverters, and so on.

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Agreement Insights

Based on industry data
Strategic partnership established
Partnership agreements typically involve technology integration and joint go-to-market strategies
Contract momentum indicator
Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months

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