Shakti Pumps Receives Empanelment Letter From MSEDCL For 25,000 Pumps

Shakti Pumps Receives Empanelment Letter From MSEDCL For 25,000 Pumps

Indian solar pump manufacturer Shakti Pumps (India) Limited (SPIL) today announced receiving a Letter of Empanelment from the Maharashtra State Electricity Distribution Company Limited (MSEDCL) for 25,000 Standalone Off-Grid solar pumps.

This was meant for Solar Photovoltaic Water Pumping Systems (SPWPS) pumps collectively worth Rs. 754.30 Crores (inclusive of GST) for the entire state of Maharashtra under Magel Tyala Saur Krushi Pump Scheme. Under this Letter of Empanelment from MSEDCL, the company will receive a series of orders from MSEDCL over the next 1 year that will cumulatively amount to 25,000 pumps with a total value of Rs. 754.30 Crores.

The stipulated timeline of 60 days for the execution of these orders will commence from the date each work order is issued. Shakti Pumps (India) Limited Chairman, Dinesh Patidar, said, “We are delighted to have received the Letter of Empanelment for 25,000 pumps from MSEDCL is a development that would significantly bolster our robust order book position. This is the second major Letter of Empanelment we have received from the Government of Maharashtra during the past year, following the initial Letter of Empanelment for 50,000 pumps. This achievement reinforces our position as a prominent player in the Solar Pumping System in Maharashtra. We remain committed to securing additional orders and ensuring their prompt execution.”

About Shakti Pumps 

Shakti Pumps was founded in 1982 as a partnership firm and later converted to a public limited company in 1995. It manufactures solar pumps, energy-efficient stainless-steel submersible pumps, pressure booster pumps, pump motors, and other products. SPIL is the only company that manufactures a wide range of products for solar pump installation in-house, including Variable Frequency Drives, Structures, Motors, Inverters, and so on.

Pithampur, Madhya Pradesh, is home to two manufacturing facilities with a combined capacity of 500,000 pumps and motors per year (India). Shakti Pumps is at the forefront of sustainable innovation and reliability in solar pumping solutions, while also being environmentally responsible.

Impact on the share market 

The recent letter allotment from MSEDL also aided the green company in improving its stock price. Among all the listed green energy companies, stocks of Shakti Pumps reported the second-highest increase after Adani Green stocks. The stocks of Shakti Pumps reported a rise of 5% today. Its closing price today stood at 856.55 in NSE.