en.Wedoany.com Reported - Oswal Pumps Limited has received three Letters of Award from North Bihar Power Distribution Company Limited and South Bihar Power Distribution Company Limited to deploy grid-connected rooftop solar projects with a total capacity of 63 MW in Bihar. The projects fall under the PM Surya Ghar - Muft Bijli Yojana, covering 57,492 consumer installation points within the Motihari, Saharsa, and Ara circles, utilizing a utility-led aggregation model for distributed residential rooftop deployment.
The contracts are executed under a CAPEX plus RESCO mode, encompassing design, engineering, procurement, manufacturing, transportation, installation, grid connection, testing, and commissioning, along with a mandatory 10-year operation and maintenance obligation. The scope also includes providing data acquisition and communication for the centralized monitoring system of Bihar's power distribution companies, as well as obtaining all necessary permits, financing, and insurance at each stage. All installations will be commissioned within nine months of the execution of the respective Power Purchase Agreements.
The total value of the order is approximately INR 2.47 billion. The estimated long-term revenue potential from the 10-year energy supply under the RESCO mode is around INR 2.57 billion, resulting in a cumulative revenue opportunity exceeding INR 5 billion. These contracts provide the company with annuity-like revenue visibility beyond project execution fees.
The company believes these awards represent a significant step in its strategic diversification into large-scale residential rooftop deployment, helping to reduce dependence on PM Kusum-driven demand and enhance long-term revenue visibility. Additionally, the announcement reflects the company's execution capabilities and its transition towards annuity-based RESCO revenue streams. Oswal Pumps is a vertically integrated solar pump manufacturer with two decades of pump engineering and manufacturing history, holding ISO 9001:2015, ISO 45001:2018, and ISO 14001:2015 certifications, and is listed on the Ministry of New and Renewable Energy's approved models and manufacturers list. These projects are expected to expand the company's distribution coverage across India, contributing to the country's decentralized clean energy goals.
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