Saatvik Green Energy Secures Rs. 13.50 Crore Solar Pump Order

Saatvik Green Energy Limited has been awarded an order by Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL) for the supply and installation of Off-Grid DC Solar Photovoltaic Water Pumping Systems. The order involves the design, manufacture, supply, transport, installation, testing, and commissioning of 815 solar pumps with capacities of 3 HP, 5 HP, and 7.5 HP. The total value of the order is approximately Rs. 13.50 Crores, exclusive of GST.

The project is part of the Magel Tyala Saur Krushi Pump Yojana/PM KUSUM B scheme and includes a complete system warranty, repair, maintenance, and remote monitoring for a period of five years. The installation and commissioning of the systems are to be completed within 60 days from the issuance of the notice to proceed or work order from the circle office.

The order is classified as a commercial contract and has been awarded by a domestic entity. There is no interest from the promoter or promoter group in the entity awarding the order, and the contract does not fall under related party transactions.

Maharashtra State Electricity Distribution Co. Ltd. is a state-owned electricity distribution company responsible for the distribution of electricity across the state of Maharashtra. The company focuses on improving the efficiency and reliability of power distribution to meet the growing energy demands of the region.

Saatvik Green Energy Limited, a part of the Saatvik Group, specializes in renewable energy solutions. The company focuses on the development and deployment of solar energy systems, contributing to sustainable energy initiatives. Its strategic priorities include expanding its portfolio of solar energy projects and enhancing its technological capabilities in the renewable energy sector.