Shakti Pumps Secures ₹353.89 Crore Order for Solar Water Pumps in Maharashtra
Shakti Pumps (India) Ltd has been awarded a significant empanelment for 15,000 solar water pumping systems, valued at ₹353.89 crore. This order is crucial as it aligns with India's push for renewable energy solutions in agriculture.
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Shakti Pumps (India) Ltd has received a Letter of Empanelment from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for 15,000 off-grid solar photovoltaic water pumping systems under the Magel Tyala Saur Krushi Pump Yojana. The total contract value, including GST, is approximately ₹353.89 crore, to be executed within 60 days from the issuance of the work order.
The scope covers design, manufacture, supply, transportation, installation, testing, and commissioning of the systems. The share price of Shakti Pumps increased slightly to ₹573.00, despite a year-to-date decline of 22.49%. The successful implementation of this project may enhance the company's position in the renewable energy sector.
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