Premier Energies Gets Rs. 215 Cr Project Under PM-KUSUM In UP

Premier Energies Gets Rs. 215 Cr Project Under PMKUSUM In UP

Premier Energies today received an order from the Uttar Pradesh Department of Agriculture under the PM KUSUM scheme (Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan). The Hyderabad-based company got a project of Rs. 215 Crores to supply, install, and commission solar water pumping systems across various districts in the state.

Premier Energies got this project from the Uttar Pradesh Department of Agriculture for the supply, installation, and commissioning with 5 years comprehensive warranty of 8,085 solar water pumping systems across various districts in the state. This project is scheduled for completion by March 2025.

This initiative falls under Component-B of the PM-KUSUM Scheme aimed at ensuring energy security for farmers in India, along with honoring India’s commitment to increase the share of installed capacity of electric power from non-fossil-fuel sources to 40% by 2030 as part of Intended Nationally Determined Contributions (INDCs). So far, component B of the scheme has received the best response from the market, thanks to hefty subsidies and even discom support, as it removes a loss making customer for discoms in most cases. There has been a significant uptake in tendering across the PMKUSUM scheme components since the last quarter of Fy 23, with tenders for over 120,000 pumps released in the period. 

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The government launched PM-KUSUM scheme in March 2019, which was scaled up in January 2024 to provide energy and water security to farmers, enhance their income, de-dieselize the farm sector, and reduce environmental pollution. Under component B, farmers can install the Stand-alone Solar Agriculture Pumps for irrigation. The Government provides the Central Financial Assistance (CFA) of 30% (or 50% for the North Eastern Region/Hilly region/Islands) for the stand-alone solar Agriculture pump.

Under the Component-B and Component-C of the PM-KUSUM scheme, the Indian government provides the Central Financial Assistance (CFA) of 30% (or 50% for the North Eastern Region/Hilly region/Islands) for the installation of the Standalone agriculture pumps and solarisation of the grid-connected agriculture pumps.

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