Last Updated on March 15, 2024 by ethinos
Shakti Pumps (India) Limited, a prominent submersible pump manufacturer, has clinched a significant milestone. The company received a Letter of Award from the Maharashtra Energy Department Agency (MEDA) for the installation of 3,500 Solar Photovoltaic Water Pumping Systems (SPWPS) across various locations in Maharashtra. This project falls under Component-B of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) program Phase-III.
Key Details:
- Project Scope: Design, manufacture, supply, transport, installation, testing, and commissioning of the SPWPS.
- Completion Timeline: The project is slated to be completed within 120 days from the date of issue of the work order.
- Total Order Value: Approximately ₹93 crores, inclusive of GST.
The SPWPS initiative aims to harness solar energy for water pumping, contributing to sustainable agriculture and rural development. Shakti Pumps’ expertise in submersible pumps positions them well to execute this ambitious project efficiently.
Shares of Shakti Pumps (India) surged, with the stock locked at the 5 percent upper circuit following the announcement. As of 9:22 AM on March 15, the company’s stock was quoting at ₹1,281.55 on the Bombay Stock Exchange (BSE).
This commendable achievement underscores Shakti Pumps’ commitment to clean energy solutions and its pivotal role in advancing India’s renewable energy goals.
Conclusion
For investors and market watchers, this development presents a compelling narrative within the clean technology space, highlighting the potential for growth and innovation. Bajaj Broking, while emphasizing the significance of such green initiatives, remains dedicated to providing insightful analysis and updates on transformative projects that resonate with our ethos of sustainability and innovation in the financial and technological landscapes. We encourage our audience to stay tuned for further updates, reinforcing our commitment to guiding our clients through the dynamic realms of investment and renewable energy advancements, albeit without providing specific investment advice.
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