Shakti Pumps (India) Limited has been awarded a big new contract by Maharashtra State Electricity Distribution Company Limited (MSEDCL) to supply and install 34,720 off-grid solar water pumping systems under the Magel Tyala Saur Krushi Pump Yojana and PM-KUSUM B program by the government. The recent order shows the increasing use of sustainable and energy solutions in agriculture throughout Maharashtra.
The latest tranche of this order is 12451 solar water pumping systems that are worth 347.41 crore and fully booked by the farmers in the entire state, which is a clear sign of high acceptance and confidence in the technology of Shakti Pumps. This is after the first tranche, of which 10,000 systems worth around ₹268.88 crore were also quickly subscribed by the farmers.
Shakti Pumps has received total orders amounting to over ₹616 crore with a combined commitment of 22,451 solar pumping systems by both tranches, which is out of its empanelled capacity of 34,720 pumps. Such a large book of orders indicates the expanding presence and dominance of this company in the solar pump business, especially in Maharashtra.
Chairman Dinesh Patidar emphasized the fact that the company is firmly rooted and has a long-standing presence in Maharashtra with an excellent record of delivery in good time. He was optimistic that Shakti Pumps will be able to meet the order on the patronized deadlines. He also repeated what the company is doing by empowering farmers to offer sustainable and energy-saving yet efficient water pumping solutions, which are meant to enhance agricultural output and rural growth.
Shakti pumps company was founded in 1982 and it produces solar pumps, motors, and parts that are energy efficient and that it exports to more than 100 countries across the globe. The company is the first company in India to be rated as five stars in manufacturing pumps, which can serve as a measure of their quality and innovativeness in the industry.
Sharing the mood of the investors, Shakti Pumps (India) Ltd shares increased by 6.43 percent to 861 on the National Stock Exchange (NSE) on Friday and this reflects the positive reaction of the market to the recent events in the company and future growth opportunities in the renewable energy sector.
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