PM-KUSUM: Bhagyanagar Gets 53 MW Solar Project At ₹3.09/kWh

Telangana-based Bhagyanagar India Limited has been awarded a Letter of Award (LOA) for a 53 MW solar pump project under the Mukhyamantri Saur Krushi Vahini Yojana 2.0. The company secured the project under feeder-level solarization under Component C of the PM-KUSUM Scheme.

The company stated in a regulatory filing, “The company has received the project order from Maharashtra State Electricity Distribution Company Limited (MSEDCL) (a Government of Maharashtra undertaking). The company envisages an overall investment of ₹245 crore. This project will be located in the state of Maharashtra.”

The company further added, “Bhagyanagar India secured the project at a tariff of ₹3.09/kWh with a subsidy of ₹1.05 crore per MW from the Government of India, i.e., Central Financial Assistance (CFA).” The company also noted, “The project shall be commissioned within 18 months from the Letter of Award (LOA). The contract period shall be 25 years from the commissioning of the project.”

MSEDCL shall procure power from the project under the Mukhyamantri Saur Krushi Vahini Yojana 2.0, launched for the implementation of feeder-level solarization under Component C of the PM-KUSUM Scheme.

PM-KUSUM Fund Allocation Rises, Maharashtra Sees Major Surge

India witnessed an increase in funds allocated under the PM-KUSUM scheme until FY 2024-25 (as of 29.01.2025), reaching a cumulative ₹1,961.39 crore. Some of the major beneficiary states that saw a jump in allocation under the PM-KUSUM scheme during this period include Gujarat, which witnessed an increase from ₹28.72 crore in FY 2023-24 to ₹47.96 crore in FY 2024-25 (as of 29.01.2025), bringing the total allocation to ₹1,961.39 crore in FY 2024-25 (as of 29.01.2025) from ₹1,000.58 crore in FY 2023-24.

Moreover, there was a consistent increase in PM-KUSUM scheme funding over the last four years, from ₹406.04 crore in FY 2021-22 to ₹801.36 crore in FY 2022-23, ₹1,000.58 crore in FY 2023-24, and ₹1,961.39 crore in FY 2024-25 (as of 29.01.2025).

About Bhagyanagar India

Bhagyanagar India Ltd. (BIL) is among the oldest and largest companies producing copper products in India. With three generations currently involved in the business, the company has a strong multigenerational presence. Run by the reputed Surana family, the company is known for its fair trade practices, quality, and dependability.