Shakti Pumps (India) Ltd., a leading manufacturer and supplier of solar pumps and motors, today announced a significant investment of Rs 1700 crore in Madhya Pradesh. The expansion to be done on approximately 64 hectares of industrial land in Pithampur will set up state-of-the-art manufacturing units for solar cells, solar pumping systems and electric vehicle components from renewable energy solar wafers, creating huge employment opportunities in the state. Once production starts in these projects, Shakti Pumps will be the first company in the country to have the capability to manufacture all the needs of the solar pumping industry such as pumps, motors, solar panels, structures, VFDs, inverters etc.Established in 1982, Shakti Pumps has a rich legacy of over 40 years in the Indian market. The company offers a wide range of pumps, including domestic, agricultural, industrial, solar and sewage pumps, that cater to a wide range of needs. A recognized leader in the Indian solar pump market, Shakti Pumps exports its products to over 100 countries across the globe with an emphasis on energy efficiency and sustainability. The company has consistently demonstrated strong financial performance and profitability. Shakti Pumps is also a channel partner of the Ministry of New and Renewable Energy (MNRE) PM KUSUM Yojana for solar pumps, underlining its commitment to renewable energy solutions.Mr. Dinesh Patidar, Chairman, Shakti Pumps (India) Ltd. said, “This significant investment underlines our unwavering commitment to Madhya Pradesh and its growth trajectory. We believe in the immense potential of the state and its favourable business environment. This expansion will strengthen our position in the renewable energy and electric vehicle sectors, as well as contribute significantly to the socio-economic development of the region by creating substantial employment opportunities.”This strategic investment will be made through three distinct companies under the Shakti Group, all located in Dhar district of Madhya Pradesh:Shakti Energy Solutions Ltd: The company will focus on manufacturing solar cells from wafers with a capacity of 2 GW with a capital investment of Rs 1200 crore. The venture is expected to generate employment opportunities for around 4000 persons.Shakti Pumps (India) Ltd:* The Group will invest an additional Rs 250 crore in this unit and focus on manufacturing solar pumps, motors, VFDs (variable frequency drives), inverters, structures and other related components, generating employment for an estimated 2500 people.Shakti EV Mobility Ltd: This new venture will specialise in manufacturing electric vehicle motors, controllers and chargers with a capacity to produce around 2 lakh units per annum. A fixed capital investment of around Rs 250 crore is planned, generating around 1000 jobs.