Indian fintech firm MOS Utility Ltd announced on Saturday its intention to enter the solar power sector, aiming to diversify its business and capitalize on the growing demand for renewable energy solutions.
The company's board has approved a proposal to amend the memorandum of association to include solar-related activities.
The new activities will encompass the manufacturing, assembly, and trading of solar products, including panels, cells, batteries, and energy storage devices, both domestically and internationally. The proposal is pending shareholder approval.
Chirag Shah, co-founder and executive director of MOS Utility, stated, “By broadening our portfolio, we aim to tap into new revenue streams, enhance our market presence, and drive long-term growth.”
MOS Utility, incorporated on July 27, 2009, has been a provider of digital products and services across various sectors including fintech, travel, insurance, and utilities.
