Shakti Pumps (India) Limited has secured a significant order worth ₹23.98 crores from Jharkhand Renewable Energy Development Agency for solar water pumping systems under the PM-KUSUM scheme. This marks the company's second order from the state of Jharkhand, demonstrating continued business expansion in the renewable energy sector.

Order Details and Scope

The Letter of Award covers 1,200 solar water pumping systems (SWPS) to be deployed at various locations across Jharkhand under Component-B of the PM-KUSUM scheme. The comprehensive project scope encompasses multiple phases of execution.

Project Specifications

The order involves end-to-end project execution covering design, manufacture, supply, transport, installation, testing and commissioning of solar water pumping systems. This comprehensive approach ensures complete project delivery from manufacturing to final commissioning at deployment sites.

The solar water pumping systems will be installed across multiple locations in Jharkhand, supporting the state's renewable energy initiatives and agricultural water supply requirements under the government's PM-KUSUM program.

Corporate Governance Compliance

Shakti Pumps has confirmed full compliance with regulatory requirements regarding this order. The company has disclosed that promoters, promoter groups, or group companies have no interest in Jharkhand Renewable Energy Development Agency, the entity that awarded the contract.

Strategic Significance

This order represents Shakti Pumps' continued participation in India's renewable energy sector, particularly in solar-powered agricultural solutions. The PM-KUSUM scheme focuses on providing solar power to farmers for irrigation and other agricultural activities, aligning with the company's product portfolio and market positioning.

The successful award of this second order from Jharkhand indicates the company's established presence and credibility in the state's renewable energy projects, potentially opening opportunities for future collaborations with state agencies.

Shakti Pumps (India) Limited has announced a major business milestone with the receipt of a Letter of Empanelment from Maharashtra State Electricity Distribution Company Limited. The company has been empaneled for supplying 16,025 off-grid DC solar photovoltaic water pumping systems (SPWPS) across the entire state of Maharashtra under the Magel Tyala Saur Krushi Pump Yojana/PM Kusum B Scheme.

Order Specifications and Value

The comprehensive order encompasses solar water pumping systems of varying capacities to meet diverse agricultural requirements across Maharashtra. The project involves design, manufacture, supply, transport, installation, testing and commissioning of the complete systems.

Project Scope and Implementation

The empanelment covers the supply of off-grid DC solar photovoltaic water pumping systems across three different horsepower categories - 3 HP, 5 HP, and 7.5 HP pumps. These systems are designed to provide sustainable irrigation solutions for farmers across Maharashtra under the government's solar agriculture initiative.

The project falls under the PM Kusum B Scheme, which aims to promote solar-powered agriculture and reduce dependence on grid electricity for farming operations. The company will be responsible for the complete project lifecycle including design, manufacturing, supply, transportation, installation, testing and commissioning of all 16,025 units.

Commercial Terms and Timeline

The total commercial value of the project stands at ₹407.51 crores excluding GST, which amounts to ₹443.78 crores inclusive of taxes. The company has committed to execute the entire project within 60 days from the issuance of the work order or Notice to Proceed (NTP).

Strategic Significance

This empanelment represents a significant business development for Shakti Pumps, which operates in the capital goods sector focusing on non-electrical equipment. The order demonstrates the company's capabilities in the renewable energy segment and its ability to execute large-scale government projects. The company has confirmed that this order does not involve any related party transactions and has been awarded at arm's length basis.