Shakti Pumps Secures Massive ₹1,037 Cr Solar Pump Order 🚀
Hey there, finance enthusiasts! 👋 We’ve got some exciting news from the renewable energy sector that’s sure to make waves. Shakti Pumps (India) Limited (NSE: SHAKTIPUMP), a key player in energy-efficient pumping solutions, has just announced a massive win!
The company has received a Letter of Empanelment from the Maharashtra State Electricity Distribution Company Limited (MSEDCL) for a whopping 34,720 Off-Grid DC Solar Photovoltaic Water Pumping Systems (SPWPS). This isn’t just any order; it’s valued at an impressive ₹1,037 Crores (inclusive of GST)! 💰
This significant project, part of the ‘Magel Tyala Saur Krushi Pump Yojana/PM KUSUM B’ scheme, aims to bring sustainable water pumping solutions across the entire state of Maharashtra. The best part? The entire project is slated for execution within one year, with installations expected to be completed within 60 days from the issuance of the work order. Talk about efficiency!
Mr. Dinesh Patidar, Chairman of Shakti Pumps (India) Limited, expressed his enthusiasm, highlighting how this order will significantly bolster their robust order book. As a leader in the solar pumps market, Shakti Pumps already boasts a strong market share across various key states like Madhya Pradesh, Rajasthan, and Haryana. This new deal further solidifies their dominant position and opens doors for more opportunities.
For those unfamiliar, Shakti Pumps, founded in 1982, is a pioneer in manufacturing solar pumps and a wide range of energy-efficient stainless-steel submersible pumps. They’re known for their in-house manufacturing of components like Variable Frequency Drives and solar structures, making them a comprehensive solution provider. They even hold the distinction of being India’s first 5-star rated pump manufacturer! ⭐
While the market closed with SHAKTIPUMP shares at ₹871.1, down 4.2%, this major announcement underscores the company’s strategic growth and commitment to India’s renewable energy goals. It’s a clear sign of their continued efforts to transform the agriculture sector through innovative solar technology.
What are your thoughts on this big move by Shakti Pumps? Let us know in the comments! 👇
source: Corporate Announcement
Join our Telegram for instant updates!