Shakti Pumps secures major solar water pump order in Maharashtra

Shakti Pumps (India) Limited received a Letter of Empanelment from Maharashtra State Electricity Distribution Company Limited for 16,025 Off-Grid DC Solar Photovoltaic Water Pumping Systems (SPWPS) across Maharashtra. This substantial order includes 3 HP, 5 HP, and 7.5 HP pumps under the Magel Tyala Saur Krushi Pump Yojana / PM Kusum B Scheme.

The total value of this domestic order is approximately ₹443.78 Crores, inclusive of GST. The execution of this project is set to be completed within 60 days from the issuance of the work order or Notice to Proceed (NTP). The specific terms of the contract involve the design, manufacture, supply, transport, installation, testing, and commissioning of these solar pumping systems.

The company confirmed that neither its promoters nor promoter group companies have any interest in the entity that awarded the order. Furthermore, the order does not fall under related party transactions, ensuring it was conducted at "arm's length." The broad commercial consideration for the order, without GST, is ₹407.51 Crores.