Pennar Industries has invested INR 5.8 crore (approximately US$700,000) in ZAP91 Solar India Pvt Ltd, a joint venture with Zetwerk focused on solar PV module manufacturing in Telangana, India.
May 27, 2026
From pv magazine India
Indian engineering and industrial manufacturing company Pennar Industries has announced an investment of INR 5.8 crore (approximately US$700,000) in ZAP91 Solar India Pvt Ltd, a joint venture between Pennar Industries and Zetwerk focused on solar module manufacturing.
The investment, to be made in a single tranche, will give Pennar Industries a 45% stake in the company. The transaction is expected to be completed by June 30, 2026.
