Shakti Pumps India has announced a major order win worth ₹21 crore from the Jharkhand Renewable Energy Development Agency. The order involves the supply of 1,000 solar water pumps, marking a significant business development for the company in the renewable energy sector.

Order Details and Timeline

The contract specifications highlight the scale and urgency of this renewable energy initiative:

Strategic Significance

This order represents a substantial business opportunity for Shakti Pumps India in the growing solar water pump market. The 120-day completion timeline indicates the Jharkhand Renewable Energy Development Agency's commitment to rapidly expanding renewable energy infrastructure across the state.

Market Impact

The order reinforces Shakti Pumps India's position as a key player in the solar water pump segment. With the increasing focus on renewable energy solutions and sustainable agriculture practices, such orders demonstrate the company's ability to secure significant contracts from government agencies and contribute to India's renewable energy goals.

Shakti Pumps (India) Limited has secured a substantial work order from Madhya Pradesh Urja Vikas Nigam Limited for solar water pumping systems under the PM-KUSUM scheme. The announcement was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Order Details

The work order encompasses 1,897 stand-alone off-grid DC solar photovoltaic water pumping systems (SPWPS) for deployment across Madhya Pradesh. This order falls under Component-B of the PM-KUSUM scheme, a government initiative aimed at promoting solar-powered agricultural equipment.

Financial Value

The order demonstrates significant business potential for the company:

Project Scope

Shakti Pumps will be responsible for the complete lifecycle of the solar pumping systems, including:

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

Regulatory Compliance

The company has confirmed that:

• This order does not involve any related party transactions.
• The promoter, promoter group, or group companies have no interest in Madhya Pradesh Urja Vikas Nigam Limited.

This ensures the transaction maintains arm's length commercial terms and meets regulatory compliance requirements.

Strategic Significance

This order represents an opportunity for Shakti Pumps to expand its presence in the renewable energy sector, particularly in solar-powered agricultural solutions. The 120-day execution timeline indicates the urgency of the project for both the company and Madhya Pradesh's agricultural infrastructure development.