Shakti Pumps Receives Work Order to Supply 10,000 Solar Pumps in Uttar Pradesh
The company secured ₹2.93 billion work order under Component B of PM-KUSUM
Shakti Pumps has received a letter of award from the Uttar Pradesh Department of Agriculture to supply, install, and commission 10,000 solar pumps under Component B of the Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan (PM-KUSUM) program.
The total value of the work order amounts to ₹2.93 billion (~$35.3 million).
The order must be executed within 90 days from the issuance of the work order.
Shakti Pumps is a manufacturer of energy-efficient pumps and motors and provides a variety of renewable energy solutions, primarily for the agriculture sector. The company has a manufacturing facility with an installed capacity of 500,000 pumps per annum in Pithampur, Madhya Pradesh.
Component B plays a pivotal role in the PM KUSUM program, with its objective to install 2 million standalone solar-powered agriculture pumps of individual pump capacity up to 7.5 horsepower by March 31, 2026.
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 (MNRE) conducted a third-party evaluation of the PM KUSUM program, and following its recommendations, the program has been extended until March 31, 2026.
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.
The Ministry granted a final extension to solar projects pending installation under Component A of the program to September 30, 2023, citing the difficulties faced by farmers in accessing finance during the initial phase.
In May last year, in order to support the projects under the KUSUM program, the MNRE scrapped the need for a separate performance bank guarantee for solar projects to be set up under Component A of the program.