MOS Utility Extents into Solar Power Sector

MOS Utility Ltd, a Mumbai based fintech firm dealing primarily in digital products and services across various sectors, announced a strategic extension into the solar power sector, moving to a significant shift in its business operations.

The shift focuses on to diversify the company's portfolio and capitalise on the increasing demand for renewable energy solutions. The company’s board has approved a proposal to amend the object clause of its memorandum of association to include solar-related activities. This tactical expansion will encompass the manufacturing, assembling, and trading of a variety of solar products. These include solar panels, cells, batteries, energy storage devices, and other related components. The firm intends to conduct these activities both within India and internationally, broadening its market reach.

Founded in 2009, MOS Utility initially established itself in the digital products and services sector, especially in B2B, B2B2C, and financial technology arenas. In the past years, the company has expanded its path which includes service in fintech, travel, insurance, utility, and more. The proposal is awaiting approval from the company’s shareholders. If the proposal is accepted, this move will mark a noteworthy shift for the company

Chirag Shah, Co-Founder and Executive Director of MOS Utility, emphasised the strategic importance of this expansion said, “By broadening our portfolio, we aim to tap into new revenue streams, enhance our market presence, and drive long-term growth. This new venture into the solar power sector reflects a broader trend of traditional companies diversifying into renewable energy markets as part of a sustainable growth strategy. The expansion into solar power represents a forward-looking approach for MOS Utility, aligning with global shifts towards sustainable energy and offering the company new opportunities in the burgeoning renewable energy sector."