Shakti Pumps Secures Rs. 65.20 Crore Order for Solar Water Pumps
Filing Summary
Shakti Pumps (India) Limited has received a work order from Madhya Pradesh Urja Vikas Nigam Limited for the supply of 1,897 standalone off-grid DC solar photovoltaic water pumping systems. The contract, valued at approximately Rs. 65.20 Crores inclusive of GST, is part of the PM-KUSUM scheme’s Component-B. The project is to be completed within 120 days. This order does not involve any related party transactions, and there is no interest from the promoter group in the awarding entity.
Shakti Pumps (India) Limited has announced the receipt of a work order from Madhya Pradesh Urja Vikas Nigam Limited for the supply and installation of 1,897 standalone off-grid DC solar photovoltaic water pumping systems. The order is valued at approximately Rs. 65.20 Crores, inclusive of GST, and falls under Component-B of the PM-KUSUM scheme. The project is scheduled for completion within 120 days from the date of the order.
The scope of the contract includes the design, manufacture, supply, transport, installation, testing, and commissioning of the solar water pumping systems. This order is classified as a domestic contract, and there are no related party transactions involved. Additionally, the promoter or promoter group of Shakti Pumps does not have any interest in Madhya Pradesh Urja Vikas Nigam Limited.
The financial details of the contract specify that the total amount before GST is Rs. 59.88 Crores. The inclusion of GST brings the total to the stated Rs. 65.20 Crores. The execution of this order is aligned with the objectives of the PM-KUSUM scheme, which aims to promote solar energy usage in agricultural water pumping.
Madhya Pradesh Urja Vikas Nigam Limited is responsible for implementing renewable energy projects in the state of Madhya Pradesh. The organization focuses on enhancing energy efficiency and promoting the use of sustainable energy solutions across the region.
Shakti Pumps (India) Limited specializes in the manufacturing of energy-efficient pumps and motors. The company is committed to expanding its portfolio in renewable energy solutions, particularly in solar-powered water pumping systems. This aligns with its strategic focus on sustainable and innovative energy solutions for agricultural and industrial applications.