Shakti Pump on 9 October announced that it had secured an order worth Rs 149.71 crore under the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) scheme.

In its regulatory filing, the company said, “Shakti Pumps announces its inaugural commercial order under the PM-KUSUM scheme component-C from Ajmer Viduyt Vitran Nigam Limited for a total worth of Rs 149.71 crore.”

Under the order, the company will replace inefficient electric pump sets with Brushless DC (BLDC) solar pump sets, wherein the pumps will run on the power generated through solar energy, and the surplus energy generated will be sent to the grid.

This will greatly benefit farmers across India by increasing irrigation capabilities, reducing reliance on traditional energy, and providing an opportunity to earn from the surplus power.

Shakti Pumps Chairman Dinesh Patidar said, “This revolutionary action changes ‘Annadata’ (food providers) into ‘Urja data’ (energy providers). Discoms would cover its pump set cost of Rs 10 lakh in 5 years by saving up to Rs 2 lakh in yearly energy bills, while farmers may earn up to Rs 50,000 per year and up to Rs 2.5 lakh in 5 years by selling excess power to discoms.”

PM_KUSUM was launched in 2019 with the aim to add a solar capacity of 30,800 MW by 2022 with total central financial support of Rs 34,422 crore, which includes service charges to the implementing agency.