Shakti Pumps (India) Limited has received a work order worth Rs 65.20 crore (inclusive of GST) from Madhya Pradesh Urja Vikas Nigam Limited for the supply of 1,897 stand-alone off-grid DC Solar Photovoltaic Water Pumping Systems (SPWPS) across Madhya Pradesh.
The order has been awarded under Component-B of the PM-KUSUM scheme and covers the design, manufacture, supply, transportation, installation, testing and commissioning of the solar pumping systems across the state.
The total value of the work order is Rs 59.88 crore excluding GST, and the project is required to be executed within 120 days.
Shakti Pumps clarified that the order has been awarded by a domestic entity, and that neither the promoter nor the promoter group has any interest in the awarding authority. The transaction also does not fall under related-party transactions.
The order further strengthens Shakti Pumps’ presence in the solar irrigation segment and aligns with the government’s focus on promoting renewable energy-based solutions for agriculture under the PM-KUSUM programme.