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Shakti Pumps Secures Rs 149.71 Crore PM-KUSUM Order

Oct 9, 2023

By: BlinkX Research Team

Shakti Pumps announced a significant milestone with the procurement of a Rs 149.71-crore order under the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) scheme. This marks the company's inaugural commercial order under component C of the government initiative, focusing on solarization.

The project entails replacing inefficient electric pump sets with advanced BLDC (brushless DC) solar pump sets, which will operate using solar-generated power. Any surplus electricity can be directed to the grid, offering substantial benefits to farmers across India. This transition enhances irrigation capabilities, reduces dependence on traditional energy sources, and opens opportunities for farmers to earn revenue through surplus power sales to discoms.

Dinesh Patidar, Chairman of Shakti Pumps, highlighted the transformative impact of this initiative, turning farmers from "Annadata" (food providers) into "Urja data" (energy providers). The scheme is designed to enable discoms to recover the pump set cost within five years while saving up to Rs 2 lakh annually in energy bills. Farmers may earn up to Rs 50,000 per year and up to Rs 2.5 lakh in five years by selling excess power.

Launched in 2019, PM-KUSUM aims to add 30,800 MW of solar capacity by 2022, with a total central financial support of Rs 34,422 crore. Its extension till March 2026 reflects its pivotal role, especially in light of the Covid pandemic's impact on implementation. The comprehensive scheme encompasses three vital components aimed at transforming India's agricultural energy landscape.