Shakti Pumps Share Price | This is the company’s second work order under the KUSUM‐3 scheme from the Haryana renewable energy department for 6,408 pumps.
Shakti Pumps (India) Ltd shares surged 9% on Friday after the company bagged an order worth ₹258 crore from the renewable energy department of the Haryana government for the supply of solar water pumping systems.
The scope of the work includes supply, installation and commissioning of solar water pumping systems, Shakti Pumps said in a stock exchange filing.
The order will be completed in 90 days, the company informed the bourses.
This is the company’s second work order under the KUSUM‐3 scheme from the Haryana renewable energy department for 6,408 pumps.
In October, the company announced that it had received a letter of empanelment from the Maharashtra State Electricity Distribution Company Limited (MSEDCL) “for 50,000 off-grid solar photovoltaic water pumping systems pumps for the entire state of Maharashtra under Component-B of the PM-KUSUM scheme (Phase III).” The total value of the order was nearly ₹1,603 crore.
In 2019, the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) was introduced to facilitate the establishment of 10,000 MW decentralised grid-connected renewable energy power plants on unproductive land.
This initiative extends beyond companies, enabling farmers, cooperatives, and panchayats to install renewable energy-based power plants with capacities ranging from 500 KW to 2 MW, promoting cleaner energy practices in the agricultural sector.
As part of the scheme, beneficiaries have the opportunity to deploy 17.50 lakh standalone solar agriculture pumps, each with a capacity of up to 7.5 HP. These solar pumps serve as replacements for conventional diesel agriculture pumps or irrigation systems in off-grid areas without access to grid supply.
At 11:14am, shares of Shakti Pumps were trading 3.71% higher at ₹ 1,040.7 apiece on BSE.