Shakti Pumps has recently announced a series of significant contracts that bolster its position in the Indian solar water pump market. These contracts, under various components of the PM-KUSUM scheme, reflect the company's commitment to advancing India's solar energy goals.

In October 2023, Shakti Pumps secured a major order from Maharashtra State Electricity Distribution Company Limited. This contract entails the supply of 50,000 off-grid solar photovoltaic pumps under Component B of the PM-KUSUM scheme Phase III. Valued at Rs 16.03 billion including GST, this project involves the installation of solar water pumping systems across Maharashtra, with a scheduled completion timeline of 24 months.

Moreover, Shakti Pumps received a Letter of Intent (LoI) from the Uttar Pradesh State Department of Agriculture. This contract, valued at approximately Rs 5.58 billion, mandates the supply, installation, and commissioning of 12,537 solar water pumps under Component B of the PM-KUSUM scheme Phase-III. The project is expected to be completed within 120 days of the order, with a final deadline set for March 31, 2025.

Additionally, Shakti Pumps has been awarded a Rs 1.49 billion contract from Ajmer Vidyut Vitran Nigam Limited under Component C of the PM-KUSUM scheme. This order follows a September 2023 announcement of a contract with the Haryana Renewable Energy Department Agency for 7,781 pumps under the same scheme.

These developments underscore Shakti Pumps' growing influence in the renewable energy sector and reaffirm its dedication to supporting India's transition to solar energy.