Crompton Greaves Consumer Electricals Limited has received a significant order for solar water pumping systems in Madhya Pradesh, marking a step forward in the company's renewable energy initiatives.

Order Details

Crompton Greaves has been awarded a Letter of Empanelment from Madhya Pradesh Urja Vikas Nigam Limited for the supply and installation of solar water pumping systems. The order, valued at approximately Rs 4.76 crore (excluding GST), encompasses 232 off-grid DC & AC Solar Photovoltaic Water Pumping Systems with varying capacities:

• 2 HP
• 3 HP
• 5 HP
• 7.5 HP

Project Scope

The project falls under the PM KUSUM B scheme, which is being implemented in Madhya Pradesh as the PM Krishak Mitra Surya Yojana. Crompton Greaves' responsibilities include:

• Design
• Manufacture
• Supply
• Transport
• Installation
• Testing
• Commissioning

Timeline and Implementation

According to the company's disclosure to the stock exchanges, the project has a strict timeline for completion. Crompton Greaves is required to fulfill the order within 120 days from the date of work order issuance.

Significance of the Order

This order is significant for Crompton Greaves as it aligns with the government's push for renewable energy adoption in the agricultural sector. The solar water pumping systems are expected to benefit farmers by providing a sustainable and cost-effective solution for irrigation needs.

Company Statement

In its filing, Crompton Greaves stated that this is a domestic contract with no related party transactions involved. The company also confirmed that there are no interests from the promoter group in the entity that awarded the contract.

Recent Product Launch

In addition to this order, Crompton Greaves recently launched a new product in its lighting segment. The company introduced the Laser Ray DMaxx 60W Batten, a B2C lighting product for the domestic market. While this launch was not considered material in terms of financial impact, the company disclosed it as part of its commitment to good corporate governance practices.

Crompton Greaves Consumer Electricals Limited continues to diversify its product portfolio and expand its presence in the renewable energy sector, showcasing its adaptability to market demands and government initiatives.

Crompton Greaves Consumer Electricals Limited has announced a significant development in its renewable energy business. The company has secured a contract for solar systems valued at approximately ₹42.40 million (₹4.24 crore) from Madhya Pradesh Urja Vikas Nigam Limited.

Contract Details

The order involves the design, manufacture, supply, transport, installation, testing, and commissioning of Off-grid DC & AC Solar Photovoltaic Water Pumping Systems (SPWPS). These systems will be installed with capacities ranging from 2 HP to 7.5 HP, specifically:

• 2 HP systems
• 3 HP systems
• 5 HP systems
• 7.5 HP systems

Project Scope and Significance

This contract is part of the Component-B of PM KUSUM B scheme, which is being implemented in Madhya Pradesh under the name 'PM Krishak Mitra Surya Yojana'. The project aims to promote solar-powered agricultural pumps, contributing to sustainable farming practices and renewable energy adoption in the state.

Key Points of the Order

Company Disclosure

Crompton Greaves has voluntarily disclosed this information as a measure of good corporate governance, despite the order value not being considered material under SEBI regulations and the company's Materiality Policy.

This contract marks a positive step for Crompton Greaves in the renewable energy sector, particularly in solar-powered agricultural solutions. It underscores the company's commitment to sustainable technologies and its ability to secure government contracts in this growing field.

As the renewable energy sector continues to expand in India, such projects are likely to play a crucial role in the country's transition towards cleaner energy sources and sustainable agricultural practices.