Investment27 May 2026, 07:31 am
Pennar Industries Invests ₹5.8 Cr in ZAP91 Solar JV
AI Summary
Pennar Industries Ltd is investing ₹5.80 Crores in ZAP91 Solar India Private Limited, a joint venture company, to fund the completion of a solar module manufacturing plant. The investment will be made in a single tranche, acquiring 45% of the shareholding. The plant, located in Sadashivpet, Telangana, is currently in the development phase and is expected to commence commercial production before June 30, 2026. ZAP91 Solar India Private Limited was incorporated on December 27, 2024, and will focus on the manufacture and sale of solar modules.
Key Highlights
- Pennar Industries invests ₹5.80 Cr in ZAP91 Solar India Private Limited.
- The investment aims to fund the completion of a solar module manufacturing plant.
- Pennar Industries will acquire 45% shareholding in the joint venture.
- Commercial production is expected to commence before June 30, 2026.
- The plant is located in Sadashivpet, Telangana, focusing on solar module manufacturing.
Price Impact
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