Shakti pumps (India) Limited has secured a major contract from the Karnataka government for solar water pumping systems, marking a significant milestone in the company's renewable energy portfolio. The company announced receiving its first letter of award from Karnataka Renewable Energy Development Limited under the PM-KUSUM scheme.

Contract Overview

The comprehensive agreement covers 16,780 stand-alone off-grid DC solar photovoltaic water pumping systems to be deployed across the entire state of Karnataka. The project falls under Component-B of the PM-KUSUM scheme, a government initiative promoting solar-powered agricultural equipment.

Financial Details

The contract represents substantial revenue potential for Shakti Pumps, with the total project value structured across different components:

Project Scope and Timeline

The contract encompasses a comprehensive range of services beyond simple equipment supply. Shakti Pumps will be responsible for the complete project lifecycle, ensuring end-to-end delivery of functional solar water pumping systems.

Key project responsibilities include:

• Design and manufacturing of solar photovoltaic water pumping systems
• Supply and transportation of equipment
• Installation and testing of systems
• Commissioning of operational units

The company must complete all project deliverables on or before March 31, 2026, providing a clear timeline for execution and revenue recognition.

Regulatory Compliance

The announcement was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that neither promoters nor group companies have any interest in the awarding entity, and the contract does not constitute a related party transaction, ensuring arm's length commercial terms.

Strategic Significance

This contract represents Shakti Pumps' continued expansion in the renewable energy sector, particularly in solar-powered agricultural solutions. The PM-KUSUM scheme aims to enhance farmers' income while promoting sustainable agricultural practices through solar technology adoption across India.

Shakti Pumps (India) Limited has secured a substantial order from the Haryana Renewable Energy Department (HAREDA), marking a significant milestone in the company's renewable energy business segment. The contract involves the supply of 792 solar water pumping systems with a total value of ₹23.54 crores under Component-B of the PM-KUSUM scheme.

Order Details and Specifications

The comprehensive order encompasses multiple aspects of solar water pumping infrastructure for Haryana state. The contract details are outlined below:

Scope of Work and Implementation

The contract encompasses the complete lifecycle of solar water pumping system deployment. The scope includes design, manufacture, supply, installation, testing, and commissioning of solar water pumping systems across Haryana state. This comprehensive approach ensures end-to-end project delivery and operational readiness of the systems.

Strategic Significance for Renewable Energy Sector

This order represents a significant contribution to Haryana's renewable energy infrastructure development under the PM-KUSUM scheme. The solar water pumping systems will provide sustainable irrigation solutions, supporting the state's agricultural sector while reducing dependence on conventional energy sources. The 90-day completion timeline indicates an urgent requirement for these systems, likely aligned with upcoming agricultural seasons.

Regulatory Compliance and Disclosure

The company has made the announcement under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015. The order qualifies as a material event requiring disclosure to stock exchanges, reflecting its significance for the company's business operations. The contract is with a domestic entity and does not involve any related party transactions.

Business Impact and Market Position

The ₹23.54 crore contract strengthens Shakti Pumps India's position in the solar water pumping market. The order from a state government department validates the company's technical capabilities and product reliability in the renewable energy sector. The substantial quantity of 792 units demonstrates the scale of operations and manufacturing capacity that Shakti Pumps can handle within tight delivery schedules.