Shakti Pumps has bagged a ₹1.49 billion (~$17.9 million) contract from Ajmer Vidyut Vitran Nigam to supply, install, and commission solar water pumps under Component C of the Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan (PM-KUSUM) program.

The project entails replacing existing grid-connected alternating current pumps with advanced brushless direct current pumps, which will operate using electricity generated from solar while supplying excess power to the grid.

The company must supply the pumps within the next nine months and oversee the project’s comprehensive maintenance for five years.

“This action changes ‘Annadata’ (food providers) into ‘Urjadata’ (energy providers). DISCOM would cover its pump set cost of ₹1 million (~$12,013) in five years by saving up to ₹200,000 (~$2,402) in yearly energy bills, while farmers may earn up to ₹50,000 (~$600) per year and up to ₹250,000 (~$3,003) in five years by selling excess power to DISCOM. Overall, it gives farmers more control over their lives, improves irrigation capacity, and lessens dependency on conventional energy sources, resulting in energy security for farmers across India,” said Dinesh Patidar, Chairman of Shakti Pumps.

The company manufactures energy-efficient pumps and motors and provides various renewable energy solutions, primarily for the agriculture sector. It has a manufacturing facility with an installed capacity of 500,000 pumps per annum in Pithampur, Madhya Pradesh.

Component C, also known as Feeder Level Solarization, plays a pivotal role in the PM KUSUM program, with its objective to solarize 15 lakh grid-connected agriculture pumps by March 31, 2026.

In September, Shakti Pumps received an order from the Uttar Pradesh Department of Agriculture to supply, install, and commission 10,000 solar pumps under Component B of the PM-KUSUM program. The total value of this work order was $ 2.93 billion (~$35.3 million).

Minister of Power R.K. Singh told Parliament that the PM-KUSUM program has benefited over 200,000 farmers as of February 28, 2023. A solar capacity of 89.45 MW has been installed under Component-A of the program. Approximately 209,000 pumps have been reported as installed or solarized under Component-B and Component-C. The total installed solar capacity under the program stood at 1.14 GW.

The Ministry of New and Renewable Energy conducted a third-party evaluation of the PM KUSUM program, and following its recommendations, the program has been extended until March 31, 2026.

Last month, the Ministry also decided to extend the waiver of the domestic content requirement for solar cells used for projects under Component C of the PM-KUSUM program until March 31, 2024.