Shakti Pumps Secures INR 114 Crore Solar Water Pumping Contract from MEDA

In a notable development in solar irrigation push, Shakti Pumps (India) Ltd. has secured a work order worth INR 114.58 crore from the Maharashtra Energy Development Agency (MEDA).

The contract, awarded under the PM-KUSUM scheme's Component-B, involves the design, manufacture, supply, transport, installation, testing, and commissioning of 4,500 off-grid Solar Photovoltaic Water Pumping Systems (SPWPS) across various locations in Maharashtra.

The scope of work is to be completed within 90 days from the date of issuance of the order, marking a significant step in promoting solar-powered irrigation infrastructure in the state. The initiative is part of a broader strategy under the Ministry of New and Renewable Energy (MNRE) to provide farmers with reliable and sustainable water pumping solutions that reduce dependency on grid power or diesel.

The Letter of Award was disclosed by the company in a regulatory filing with the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). The company clarified that there is no promoter or group company interest in MEDA, and the transaction does not fall under related-party dealings.

With this order, the company further strengthens its role in supporting the government's green energy initiatives focussed on rural empowerment and energy security.