Saatvik Green Energy Secures Rs. 16.74 Crore Order from MSEDCL
Filing Summary
Saatvik Green Energy Limited has received an additional order from Maharashtra State Electricity Distribution Co. Ltd. valued at approximately Rs. 16.74 Crores. The order involves the design, manufacture, supply, transport, installation, testing, and commissioning of 1,000 Off-Grid DC Solar Photovoltaic Water Pumping Systems. This increases the total order size to 1,815 units, aggregating to Rs. 30.24 Crores. The installation and commissioning are to be completed within 60 days from the issuance of the work order. The order is part of the Magel Tyala Saur Krushi Pump Yojana/PM KUSUM B scheme.
Saatvik Green Energy Limited has announced the receipt of an additional order from Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL) for the supply of Off-Grid DC Solar Photovoltaic Water Pumping Systems. The order is valued at approximately Rs. 16.74 Crores and includes 1,000 units of 3 HP, 5 HP, and 7.5 HP capacity pumps. This order is part of the Magel Tyala Saur Krushi Pump Yojana/PM KUSUM B scheme.
The scope of the order includes the design, manufacture, supply, transport, installation, testing, and commissioning of the solar water pumps at identified farmer sites in Maharashtra. The order also covers a complete system warranty, repair and maintenance, and a remote monitoring system for a period of five years. The installation and commissioning of the systems are to be completed within 60 days from the date of issuance of the notice to proceed or work order from the circle office.
With this additional order, the total order size for Saatvik Green Energy now stands at 1,815 solar photovoltaic water pumps, aggregating to an approximate value of Rs. 30.24 Crores, exclusive of GST. The company had previously communicated an order for 815 units, which has now been expanded with this new order.
The order from MSEDCL is a domestic commercial contract, and there is no interest from the promoter or promoter group in the entity awarding the order. Additionally, the transaction does not fall within related party transactions.
Maharashtra State Electricity Distribution Co. Ltd. is a state-owned electricity distribution company responsible for distributing electricity across the state of Maharashtra. The company is involved in various initiatives to promote renewable energy and enhance the electricity infrastructure in the region.
Saatvik Green Energy Limited is engaged in the business of providing renewable energy solutions, focusing on solar energy projects. The company is part of the Saatvik Group and is committed to expanding its portfolio in the renewable energy sector through strategic projects and partnerships.