Shares of Shakti Pumps (India) Limited surged over 4% in morning trade after the company announced a major order win in the renewable energy space, reinforcing its leadership in solar-powered irrigation solutions. The rally came after the company received a Letter of Award from Karnataka Renewable Energy Development Limited (KREDL) for a large-scale solar pump deployment across Karnataka.
The order involves the supply, installation, and commissioning of 16,780 Stand-alone Off-Grid DC Solar Photovoltaic Water Pumping Systems (SPWPS) throughout the state of Karnataka. The project has been awarded under Component-B of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) scheme, one of the flagship renewable energy initiatives of the Government of India.
As per the company’s disclosure, the total value of the contract stands at approximately ₹654.03 crore, inclusive of GST, while the base order value is ₹600.58 crore. The scope of work includes end-to-end responsibility covering design, manufacturing, supply, transportation, installation, testing, and commissioning of the solar pumping systems. The entire project is scheduled to be completed on or before March 31, 2026.
Shakti Pumps clarified that the order has been awarded by a domestic entity and does not fall under related party transactions. The promoters and promoter group companies have no interest in the awarding authority, ensuring full compliance with regulatory norms.
