Shakti Pumps Wins INR 558.16 Crore Solar Pump Project in UP Under PM-KUSUM Scheme

The Madhya Pradesh based solar pump firm, Shakti Pumps (India) Ltd. has announced a landmark contract with the Department of Agriculture, Uttar Pradesh, solidifying its role as a key player in the solar energy and agricultural sectors. The company has received a Letter of Intent to supply and install 12,537 solar water pumping systems under Component-B of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM - Phase-III).

Valued at approximately INR 558.16 crore (inclusive of GST), this significant order is scheduled for completion by March 31, 2025. The order is to be executed in a phased manner on the basis of quantities defined under the letters of proceed, once received. Under the order details, Shakti Pumps will be responsible for supply, installation, and commissioning of solar water pumping systems.

It may be noted that the main objectives of the PM-KUSUM include de-dieselisation of the farm sector, providing water and energy security to farmers, increasing the income of farmers, and curbing environmental pollution. The Scheme has three components, viz., A, B, and C, which are targeted to achieve a solar power capacity addition of 34.8 GW by 31.3.2026 with total central financial support of INR 34,422 crore.

Component B focusses on the installation of 14 lakh stand-alone solar pumps in off-grid areas. This initiative aims to benefit a diverse range of stakeholders, including individual farmers, Water User Associations, Primary Agriculture Credit Societies, and Communities or Cluster-Based Irrigation Systems. By targeting these groups, the program seeks to enhance access to reliable and sustainable water sources, thereby supporting agricultural productivity and community water management in regions lacking grid connectivity.

Further, the firm said in its note, "This contract not only highlights Shakti Pumps' expanding footprint in the renewable energy sector but also emphasises its dedication to advancing agricultural infrastructure in Uttar Pradesh."

As per the firm, Shakti Pumps has been actively involved in Uttar Pradesh, contributing to agricultural and rural development through its innovative solar solutions. The company's efforts are instrumental in enhancing water accessibility for farming, which is crucial for boosting agricultural productivity and supporting local economies. By providing sustainable and cost-effective solar-powered water pumping systems, Shakti Pumps addresses the challenges of water scarcity in rural areas, furthering the state's goals for renewable energy and improved irrigation.