Pennar Industries Announces Strategic JV with Zetwerk Manufacturing!

Pennar Industries has partnered with Zetwerk Manufacturing Businesses to form a strategic joint venture (JV) focused on the manufacturing and sale of solar modules. This initiative targets both domestic and international markets, aiming to address the rising demand for renewable energy solutions.

The JV will operate a dedicated manufacturing unit designed to enhance the solar energy sector’s production capacity. Zetwerk Manufacturing will hold the majority stake at 50.1%, with Pennar Industries owning 45%, and the remaining 4.9% allocated to other partners. Pennar has committed ₹8.75 crore in equity to the venture, contributing to the total paid-up capital of ₹41.67 crore for the new entity.

This partnership combines the strengths of Pennar Industries and Zetwerk Manufacturing, positioning both companies as key players in the global solar energy market. By leveraging their expertise and resources, the JV is poised to meet the increasing demand for solar energy solutions, driving growth and innovation in the renewable energy space.

This collaboration underscores their commitment to advancing sustainable energy initiatives and enhancing the adoption of clean energy solutions worldwide.