Latest news with #SolarPhotovoltaicWaterPumping
Fashion Value Chain
16-06-2025
- Business
- Fashion Value Chain
Crompton Secures Largest-ever Solar Pumps Order of Rs. 101 Crore from Maharashtra Energy Development Agency (MEDA), Reinforcing its Leadership in Sustainable Irrigation Solutions
Crompton Greaves Consumer Electricals Ltd., a trusted leader in India's pumps industry, has achieved a landmark milestone in its green energy journey by securing its largest-ever order in the solar water pump segment. The company has received a Letter of Award (LoA) from the Maharashtra Energy Development Agency (MEDA) valued at over Rs. 101 crore (exclusive of GST) for the design, manufacture, supply, transportation, installation, testing, and commissioning of 4,500 Off-grid Solar Photovoltaic Water Pumping Systems (SPWPS) across Maharashtra under Component-B of the PM-KUSUM scheme. This significant order underscores Crompton's ongoing commitment to providing sustainable irrigation solutions that empower farmers across India. The turnkey project also includes a comprehensive five-year maintenance contract (CMC), ensuring long-term reliability and support for the installed systems. Crompton's advanced solar-powered DC submersible pumps are engineered for durability, high performance, and ease of use, specifically designed to address water access challenges in off-grid and rural regions. The company will leverage its trained field personnel, local district support teams, and robust after-sales service network to ensure seamless implementation and operational excellence throughout the project's lifecycle. This initiative aligns directly with national objectives to facilitate farmers' transition from conventional energy sources to renewable solar energy, delivering both economic savings and environmental benefits. The order comes amid rapid growth in India's submersible water pump market, driven by increasing demand in agriculture, rural water supply, and off-grid applications. Solar-powered submersible pumps are becoming vital in regions with irregular rainfall and limited grid power, enabling consistent and sustainable irrigation. Mr. Rajat Chopra, Business Head – Home Electricals & Pumps at Crompton Greaves Consumer Electricals Ltd., commented, 'We are delighted to have received the Letter of Award from MEDA for 4,500 Solar Photovoltaic Water Pumping Systems under the PM-KUSUM scheme. This milestone not only marks our largest solar pump order to date but also reflects our ongoing commitment to delivering reliable and high-performance pumping solutions tailored to the needs of farmers across India. The order reinforces confidence in Crompton's product excellence, long-lasting performance, and robust service network. It further strengthens our position as a trusted partner in driving solar-powered irrigation forward. At Crompton, we remain focused on enabling clean energy access for farmers while ensuring seamless execution backed by quality, innovation, and strong after-sales support.' Crompton actively participated in the tender process across four key states – Haryana, Maharashtra, Rajasthan, and Madhya Pradesh. The initial phase, overseen by SECI and MNRE, has transitioned to respective state nodal agencies including HAREDA, MEDA, MSEDCL, MPUVNL, and RHDS for final execution. While Crompton is already operational in Haryana, Rajasthan, and Maharashtra, the company is preparing to commence work in Madhya Pradesh and is poised to expand its footprint across other Indian states. With over 85 years of experience, Crompton continues to innovate and lead in delivering energy-efficient, durable, and smart pumping technologies that support India's clean energy and water access goals. About Crompton With a brand legacy of over 85 years, Crompton Greaves Consumer Electricals Ltd. is India's market leader in the category of fans and residential pumps. Over the years, the organization has continuously strived to produce a range of innovative products that cater to the modern consumer including superior quality and high-performance fans, pumps, lighting solutions and a range of other categories like water heaters; air coolers; small kitchen appliances like mixer grinders, air fryers, OTG, electric kettles etc.; other home appliances like irons & built-in kitchen appliances. The company has further invested in brand and innovation to not only better understand and meet consumer needs, but to also help drive energy efficiency. The consumer business also has a well-established and organized distribution network driven by a strong dealer base across the country offering a wide service network and robust after sales service to its customers. The companys consistent dedication to developing energy-efficient products has led to significant recognition. It has been honored with three prestigious National Energy Consumer Awards (NECA) by BEE, Ministry of Power. The recent award was presented by the Hon'ble President of India, Smt. Droupadi Murmu for the companys storage water heater in 2023. In 2019, the brand won in two categories: Ceiling Fans and LED Bulbs. Additionally, it was recognized as one of Indias Best Managed Companies 2022 by Deloitte Private and listed among 'India's Top 500 companies 2022' by Dun & Bradstreet India. The company has also been featured in Brand Top 75 most valuable Indian brands list for 2020 released by WPP and Kantar. Furthermore, Crompton was also recognized as the Brand of the Decade 2021 by Herald Global and BARC Asia in the Consumer Electrical category.
Business Standard
13-06-2025
- Business
- Business Standard
Crompton Greaves bags Rs 101-cr Order from MEDA
Crompton Greaves Consumer Electricals has secured a Letter of Award (LoA) worth Rs 100.68 crore from the Maharashtra Energy Development Agency (MEDA) for supplying and installing 4,500 Off-grid Solar Photovoltaic Water Pumping Systems (SPWPS). In a regulatory filing, the company stated that the order falls under Component-B of the PM-KUSUM scheme, a government initiative aimed at promoting solar energy in the agricultural sector. The scope of the turnkey project includes the design, manufacture, supply, transportation, installation, testing, and commissioning of the solar water pumps across Maharashtra. The entire project is scheduled for completion within 90 days from the issuance of the work order. The contract also includes a comprehensive five-year maintenance contract (CMC), ensuring long-term reliability and post-installation support. Cromptons solar-powered DC submersible pumps are engineered for high performance and durability, catering specifically to off-grid and rural areas that face challenges in water accessibility. To ensure efficient execution, the company plans to deploy its trained field personnel, local district support teams, and extensive after-sales service network across the state. The company said that this initiative aligns directly with national objectives to facilitate farmers transition from conventional energy sources to renewable solar energy, delivering both economic savings and environmental benefits. The order comes amid rapid growth in Indias submersible water pump market, driven by increasing demand in agriculture, rural water supply, and off-grid applications. Solar-powered submersible pumps are becoming vital in regions with irregular rainfall and limited grid power, enabling consistent and sustainable irrigation. Rajat Chopra, Business Head Home Electricals & Pumps at Crompton Greaves Consumer Electricals, commented, We are delighted to have received the Letter of Award from MEDA for 4,500 Solar Photovoltaic Water Pumping Systems under the PM-KUSUM scheme. This milestone not only marks our largest solar pump order to date but also reflects our ongoing commitment to delivering reliable and high-performance pumping solutions tailored to the needs of farmers across India. The order reinforces confidence in Cromptons product excellence, long-lasting performance, and robust service network. It further strengthens our position as a trusted partner in driving solar-powered irrigation forward. At Crompton, we remain focused on enabling clean energy access for farmers while ensuring seamless execution backed by quality, innovation, and strong after-sales support. Crompton Greaves Consumer Electricals is one of the leading consumer companies in India with a brand legacy of over 75 years. It is an independent company under professional management, operating in two business segments: lighting and electrical consumer durables. We market our products under the Crompton brand name in India and select export markets. The companys consolidated net profit jumped 22.5% to Rs 169.48 crore on 5.1% increase in revenue from operations to Rs 2,060.64 crore in Q4 FY25 over Q4 FY24. The counter shed 0.23% to Rs 342.80 on the BSE.
Economic Times
12-06-2025
- Business
- Economic Times
Shakti Pumps shares surge 5% on bagging Rs 114 cr work order from Maharashtra Energy Department Agency
Live Events Shakti Pumps share price performance (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of Shakti Pumps (India) surged 4.6% to hit an intraday high of Rs 1,010 on the BSE on Thursday, following the announcement of a major order worth Rs 114.58 crore (inclusive of GST) from the Maharashtra Energy Department Agency MEDA ).The company has received a Letter of Award from MEDA for the supply and installation of 4,500 off-grid Solar Photovoltaic Water Pumping Systems (SPWPS) under Component-B of the PM-KUSUM scheme . The systems will be deployed across various locations in Maharashtra.'Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Schedule III thereof, we would like to inform you that the Shakti Pumps (India) Limited has received Letter of Award from Maharashtra Energy Department Agency (MEDA) for 4500 Off-grid Solar Photovoltaic Water Pumping System (SPWPS) at various locations across the State of Maharashtra under MNRE Component-B of PM-KUSUM scheme. The total amount of the work order is for around Rs. 114.58 Crores (inclusive of GST),' the company informed via a regulatory to the exchange filing, the scope of the contract includes design, manufacture, supply, transport, installation, testing, and commissioning, with execution scheduled to be completed within 90 days from the date of issuance of the work the past one year, the stock has surged 132.01%, while the year-to-date (YTD) return shows a decline of 10.10%. In the last 6 months, the stock has gained 18.94%, whereas over the 3-month period, it has risen by 11.48%. For the most recent month, the stock recorded a gain of 17.76%.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
12-06-2025
- Business
- Time of India
Shakti Pumps shares surge 5% on bagging Rs 114 cr work order from Maharashtra Energy Department Agency
Shares of Shakti Pumps (India) surged 4.6% to hit an intraday high of Rs 1,010 on the BSE on Thursday, following the announcement of a major order worth Rs 114.58 crore (inclusive of GST) from the Maharashtra Energy Department Agency ( MEDA ). The company has received a Letter of Award from MEDA for the supply and installation of 4,500 off-grid Solar Photovoltaic Water Pumping Systems (SPWPS) under Component-B of the PM-KUSUM scheme . The systems will be deployed across various locations in Maharashtra. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo 'Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Schedule III thereof, we would like to inform you that the Shakti Pumps (India) Limited has received Letter of Award from Maharashtra Energy Department Agency (MEDA) for 4500 Off-grid Solar Photovoltaic Water Pumping System (SPWPS) at various locations across the State of Maharashtra under MNRE Component-B of PM-KUSUM scheme. The total amount of the work order is for around Rs. 114.58 Crores (inclusive of GST),' the company informed via a regulatory filing. According to the exchange filing, the scope of the contract includes design, manufacture, supply, transport, installation, testing, and commissioning, with execution scheduled to be completed within 90 days from the date of issuance of the work order. Also read: How 50 Bajaj Finance shares will turn into 500 by June 27. Explained Live Events Shakti Pumps share price performance Over the past one year, the stock has surged 132.01%, while the year-to-date (YTD) return shows a decline of 10.10%. In the last 6 months, the stock has gained 18.94%, whereas over the 3-month period, it has risen by 11.48%. For the most recent month, the stock recorded a gain of 17.76%. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Business Upturn
12-06-2025
- Business
- Business Upturn
Shakti Pumps secures Rs 114.58 crore solar water pumping contract from Maharashtra's MEDA under PM-KUSUM scheme
By Aditya Bhagchandani Published on June 12, 2025, 10:09 IST Shakti Pumps (India) Ltd has received a significant order from the Maharashtra Energy Development Agency (MEDA) for the supply and installation of 4,500 off-grid Solar Photovoltaic Water Pumping Systems (SPWPS). The contract is valued at approximately Rs 114.58 crore, inclusive of GST, and falls under Component-B of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) scheme. The scope of the order includes design, manufacturing, supply, transportation, installation, testing, and commissioning of the solar water pumps across various locations in Maharashtra. According to the official disclosure made under SEBI Regulation 30, the work is scheduled to be completed within 90 days from the issuance of the work order. The company has clarified that the order is domestic in nature, and neither the promoter group nor any related party has any interest in MEDA. This order is not categorized as a related party transaction. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
