Shakti Pumps Secures Rs. 356 Crore Solar Pump Order in Maharashtra

Shakti Pumps (India) Limited has announced the receipt of a Letter of Empanelment/Award from the Maharashtra State Electricity Distribution Company Limited. This order pertains to the supply and installation of 12,883 Off-Grid DC Solar Photovoltaic Water Pumping Systems (SPWPS) with capacities of 3 HP, 5 HP, and 7.5 HP. The systems are to be deployed across the state of Maharashtra under the Magel Tyala Saur Krushi Pump Yojana / PM Kusum B Scheme.

The total value of the contract is approximately Rs. 356.77 Crores, inclusive of GST. The execution timeline for the project is set at 60 days from the date of issuance of the work order or Notice to Proceed (NTP). The scope of the contract includes the design, manufacture, supply, transport, installation, testing, and commissioning of the solar pumping systems.

The order is categorized as a domestic contract, and there are no interests from the promoter or promoter group in the awarding entity. Additionally, the transaction does not fall under related party transactions, ensuring it is conducted at arm’s length.

Maharashtra State Electricity Distribution Company Limited is a key player in the distribution of electricity in Maharashtra. The company focuses on enhancing the state’s energy infrastructure and promoting renewable energy solutions.

Shakti Pumps (India) Limited specializes in the manufacturing of energy-efficient pumps and motors. The company is committed to advancing solar energy solutions and expanding its footprint in the renewable energy sector. Its strategic initiatives include increasing the adoption of solar-powered water pumping systems across various regions.