Pennar Industries enters into JV with Zetwerk Manufacturing Businesses for manufacturing and sale of solar modules.

Pennar Industries, a leading engineering and manufacturing company, has entered into a Joint Venture Agreement with Zetwerk Manufacturing Businesses and other stakeholders. The agreement, signed on December 31, 2024, represents a strategic collaboration aimed at establishing a dedicated joint venture company for the production and sale of solar modules.

The shareholder details in the proposed Joint Venture Agreement will be as follows.

  • Zetwerk Manufacturing Businesses – 50.1%
  • Pennar Industries – 45.0%
  • Others – 4.9%
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