Shakti Pumps Tieups With ReNew For Supply Of DCR Modules

Indian solar pump manufacturer Shakti Pumps today announced increasing its capacity to procure additional DCR (Domestic Content Requirement) solar cell-based solar modules. The company today said that it has partnered with ReNew Photovoltaic Private Limited for the same.

The company was earlier engaged in partnerships with Indian solar cell makers like Mundra (Adani) Solar and Premier Energies. The company informed its investors about the latest development in its filing before the exchanges.

“We are happy to inform you about the additional tie-up for DCR cell-based Solar Module for FY 2025-26. The company has an existing partnership with Mundra Solar PV Limited (Adani) and Premier Energies Ltd. for the supply of DCR cell-based Solar Module,” it said.

Shakti Pumps also added, “Furthermore, Shakti Pumps (India) Ltd has also tied-up with ReNew Photovoltaic Private Limited for an additional supply of Rs. 1,300 Cr. DCR cell-based Solar Module. This new partnership is expected to further accelerate the company’s growth momentum.”

 

Why Shakti Pumps Need DCR based modules?

This is also significant for the financial growth of the company. The firm in its latest investors call also cited the issue of shortage of DCR solar panels which apparently limited its faster growth for the business. Dinesh Patidar, Chairman of the firm in the investors call had told his investors that they are confident of 20-25% growth in the present market situation but cited the shortage of DCR cell-based modules as a limiting factor. 

As a key manufacturer of solar pumps where its products are used in solar irrigation schemes like PM-KUSUM, the government’s mandate to comply with DCR mandate for such schemes makes it more compliant centric. This mandate envisions the use of only DCR-compliant solar modules in solar irrigation schemes.

The new move is likely to boost the capacity of the Indore-based solar pump manufacturer to widen its business prospects.  The Ministry of New and Renewable Energy (MNRE) has made DCR rules for specific pet solar projects like PM-KUSUM and PM Surya Ghar. Moreover, the government in its latest Budget has also proposed to increase the budgetary allocation for PM-KUSUM scheme marginally to spur the growth of off-grid solar and other components of the scheme, a move likely to boost the prospects of the solar pump companies like Shakti Pumps, Oswal Pumps and other players who are into the market.