PM-KUSUM Comp B: Australian Premium Solar Bags Rs 107.7 Cr Order From TREDA

Australian Premium Solar has received its first Letter of Award (LoA) from the Tripura Renewable Energy Development Agency (TREDA) under the Department of Power, after winning a government tender. The company said in a regulatory filing that it secured an order for the supply of 633 off-grid solar photovoltaic water pumping systems (SPWPS) in Tripura.

“The total value of the order is ₹10.77 crore, which includes a five-year warranty, annual maintenance contract, and insurance coverage on a turnkey basis,” the company said, adding that the project falls under Component B of the PM-KUSUM scheme of the Ministry of New and Renewable Energy.

Australian Premium Solar

Speaking after the Australian Premium Solar’s Q3 FY ’25 quarterly results, CEO and founder Nikunjkumar Patel said the Indian government has set a long-term target of installing over 10 million solar pumps by 2030. He added, “So, the whole segment government has set the timeline with long-term targets initially for 3 to 5 years. And maybe if we see until 2048, then the overall target also increase up to 1,800 GW in renewable energy from India. So, I personally expect good
growth in coming years on renewable energy, particularly solar panel benefits.”

In the last quarter, Australian Premium Solar, stated, “In solar pump, we have installed 5,000 plus solar pump, maybe by now it’s more. In distribution, we may have more than now it’s around 45 or 50 distributors who are buying regularly, every 2 weeks from us. So, all our turnover, whatever we are generating, it’s actual brand presence in the market.”

When asked about the company’s current collection period, for solar modules including DCR and non-DCR modules, Patel said “For the distribution, we offer zero credit at the moment, which means unless some of them are three supply we are supplying from 3 to 5 years. For residential rooftops, the cycle is roughly 4 weeks. And then for the solar pump, because the money 100% payment is coming from the government, it’s taking usually 6 weeks, and in worst cases, it’s up to 10 weeks.”