Shakti Pumps Secures Rs. 170 Crore Order for Solar Water Pumps

Shakti Pumps (India) Limited has received a new work order from Madhya Pradesh Urja Vikas Nigam Limited for the supply and installation of 4,840 Stand-alone Off-Grid DC Solar Photovoltaic Water Pumping Systems. The total value of this order is approximately Rs. 170 Crores, inclusive of GST. The project is to be executed within a period of 120 days.

The order is part of Component-B of the PM-KUSUM scheme, which aims to enhance the use of solar energy in agricultural water pumping. The scope of the contract includes the design, manufacture, supply, transport, installation, testing, and commissioning of the solar water pumping systems. The order has been awarded by a domestic entity, and there are no related party transactions involved.

The financial consideration for the work order is approximately Rs. 156 Crores, excluding GST. The company has confirmed that neither the promoter group nor any group companies have any interest in the entity awarding the contract. The order does not fall within related party transactions.

Madhya Pradesh Urja Vikas Nigam Limited is focused on promoting renewable energy projects in the state of Madhya Pradesh. The organization plays a significant role in implementing government schemes aimed at increasing the adoption of solar energy solutions.

Shakti Pumps (India) Limited specializes in the manufacture and supply of energy-efficient pumps and solar energy solutions. The company is committed to expanding its presence in the renewable energy sector, focusing on sustainable and innovative technologies to meet the growing demand for solar-powered solutions.