Shakti Pumps Receives Letter of Empanelment for 10,000 Solar Water Pump Sets

en.Wedoany.com Reported - On September 9, Shakti Pumps (India) Limited received a Letter of Empanelment issued by Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL) to supply 10,000 off-grid solar photovoltaic water pump systems under the state's "Magel Tyala Saur Krushi Pump Yojana" scheme, with equipment capacities covering 3 HP, 5 HP, and 7.5 HP. The total project value including taxes is approximately INR 2,359.2 million, of which the work order value excluding taxes is INR 2,166.4 million.

The scope of work includes the design, manufacture, supply, transportation, installation, testing, and commissioning of off-grid solar photovoltaic water pump systems. According to the disclosure filed by the company with the National Stock Exchange of India, the project execution period is 60 days from the date of formal issuance of the work order or Notice to Proceed (NTP) by MSEDCL.

What Shakti Pumps has obtained this time is a Letter of Empanelment, and the subsequent specific execution timeline starts from the issuance of the work order or NTP. The exchange filing also confirms that this order was awarded by MSEDCL, a domestic Indian entity, that Shakti Pumps' controlling shareholders and affiliated enterprises have no interest in the procuring party, and that the transaction does not constitute a related-party transaction.

In July of this year, MSEDCL also awarded Shakti Pumps an order for 15,000 sets of the same type of off-grid solar water pump systems, worth approximately INR 3,538.9 million, with equipment also covering 3 HP, 5 HP, and 7.5 HP, and requiring completion within 60 days after the issuance of the work order or NTP. This empanelment for 10,000 sets represents a new procurement milestone and is not a repeated disclosure of the July order for 15,000 sets.