GK Energy Limited has received a Letter of Empanelment (LoE) from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for the supply and installation of 15,000 Off-Grid DC Solar Photovoltaic Water Pumping Systems (SPWPS) across Maharashtra under the Magel Tyala Saur Krushi Pump Yojana.
The total order value stands at ₹353.89 crore, inclusive of GST, according to the company’s regulatory filing. The project is scheduled to be executed within 60 days from the issuance of the work order or Notice to Proceed (NTP).
The scope of work includes design, manufacturing, supply, transportation, installation, testing, and commissioning of solar-powered water pumping systems of 3 HP, 5 HP, and 7.5 HP capacities.
GK Energy stated that the order has been awarded by a domestic entity and is classified as a one-time contract. The company also confirmed that the promoter group and related parties do not have any interest in MSEDCL, and the transaction does not qualify as a related party transaction.
The order is expected to strengthen GK Energy’s presence in the renewable energy and solar irrigation segment, particularly in Maharashtra’s agricultural sector where demand for solar-powered pumps continues to grow under government-backed initiatives.
The Magel Tyala Saur Krushi Pump Yojana aims to promote solar irrigation systems among farmers, helping reduce dependence on conventional electricity while supporting sustainable agricultural practices.
Meanwhile, shares of the company surged over 3.5% to hit an intraday high of Rs 137.00 on the NSE after the order win announcement.