Saatvik Green Energy Limited has secured a significant order worth ₹13.50 crores (exclusive of GST) from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for solar water pumping systems. The comprehensive contract covers the design, manufacture, supply, transport, installation, testing and commissioning of 815 off-grid DC solar photovoltaic water pumping systems under the Magel Tyala Saur Krushi Pump Yojana/PM KUSUM B scheme.

Order Specifications and Scope

The order encompasses solar water pumping systems of varying capacities including 3HP, 5HP and 7.5HP units to be installed at identified farmer sites across districts in Maharashtra. The contract includes a complete system warranty along with repair, maintenance and remote monitoring system support for five years, demonstrating the company's commitment to long-term service delivery.

PM KUSUM B Scheme Integration

The project falls under the PM KUSUM B scheme, a government initiative aimed at promoting solar-powered agricultural equipment and reducing farmers' dependence on grid electricity. This strategic alignment with government policy positions Saatvik Green Energy favorably in the policy-driven renewable energy market, particularly in Maharashtra's agricultural sector.

Execution Timeline and Service Commitment

Saatvik Green Energy has committed to completing the installation and commissioning of all solar photovoltaic water pumping systems within 60 days from the date of issuance of Notice to Proceed (NTP) or work order from the circle office. The company's comprehensive service offering includes remote monitoring capabilities, ensuring efficient operation and maintenance throughout the five-year warranty period.

Regulatory Compliance and Transparency

The company has confirmed that this order represents a domestic contract with no related party transactions involved. The order details have been disclosed in compliance with SEBI Listing Regulations under Regulation 30, ensuring complete transparency with stakeholders and regulatory authorities.

Saatvik Green Energy Limited has issued a comprehensive postal ballot notice to its shareholders, seeking approval for three critical special business resolutions through remote e-voting. The notice demonstrates the company's commitment to corporate governance and regulatory compliance.

Key Resolutions for Shareholder Approval

The postal ballot encompasses three special resolutions that require member consent:

Board Leadership Enhancement

The first resolution focuses on strengthening the company's board composition through the appointment of Ms. Ritu Lal as an Independent Woman Director. Ms. Lal brings nearly three decades of experience across diverse sectors including Renewable Energy, Pharmaceuticals, FMCG, Food, and Executive Search Consulting.

Employee Stock Option Scheme Ratification

The second and third resolutions address the ratification of the company's Employee Stock Option Scheme-2024 (SGELESOS2024). The ratification aims to ensure continued compliance with SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021, which require post-IPO shareholder approval for pre-IPO schemes.

Strategic Implications

These resolutions collectively aim to strengthen Saatvik Green Energy's corporate structure through enhanced board diversity, employee retention mechanisms, and regulatory compliance. The appointment of an experienced renewable energy professional as an independent director aligns with the company's sector focus, while the ESOP ratification may help attract and retain talent in the competitive green energy sector.

The passage of these resolutions could enable the company to maintain its growth trajectory while adhering to best practices in corporate governance and stakeholder engagement.