Shakti Pumps Secures Rs 150-Crore Order in PM-KUSUM Scheme

Shakti Pumps, a prominent player in the water pump industry, has recently announced a significant achievement in securing a substantial order worth Rs 149.71 crore under the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) scheme. This noteworthy development marks the first order received by Shakti Pumps under the scheme's Component C, signifying a major milestone for the company.

Under this project, Shakti Pumps will be tasked with the crucial mission of replacing inefficient electric pump sets with advanced BLDC (brushless DC) solar pump sets. These solar-powered pump sets are designed to harness energy from the sun, allowing them to operate on solar power. Moreover, any surplus electricity generated can be seamlessly channeled into the grid.

This initiative is poised to bring about a substantial positive impact for farmers across India. By upgrading irrigation infrastructure with modern, energy-efficient technology, it promises to enhance irrigation capabilities significantly. Additionally, it reduces the dependence on traditional energy sources, a vital step toward sustainable agriculture practices. Perhaps most importantly, it opens up a new avenue for farmers to earn income by selling excess power to distribution companies (discoms).

Also Read:- CNH Bolsters High-Tech Harvesting Portfolio with Investment in Advanced Farm Technologies

Dinesh Patidar, Chairman of Shakti Pumps, hailed this development as revolutionary, emphasizing how it transforms farmers from mere food providers ('Annadata') to energy providers ('Urja data'). He highlighted that discoms would recoup the investment in these pump sets, typically valued at Rs 10 lakh, within five years. This is made possible by the substantial yearly energy bill savings, potentially amounting to Rs 2 lakh. Simultaneously, farmers stand to gain significantly, with the potential to earn up to Rs 50,000 annually and a cumulative amount of up to Rs 2.5 lakh over five years through surplus power sales to discoms.

The PM-KUSUM scheme, launched in 2019, is a visionary initiative aimed at bolstering India's solar capacity. It has set a target of adding 30,800 MW of solar capacity by 2022, with substantial central financial support of Rs 34,422 crore, inclusive of service charges to implementing agencies. The scheme is divided into three components, each playing a pivotal role in achieving this ambitious goal.

Also Read:- Indian Auto Sales Jumped 20% in September, Except for Tractors

Component A focuses on the installation of small-scale power plants with capacities of up to 2 MW, contributing to the overall solar capacity expansion. Component B is dedicated to the installation of a staggering 20 lakh standalone solar-powered agriculture pumps, a critical step in modernizing irrigation practices. Finally, Component C, the very component under which Shakti Pumps secured its inaugural order, is dedicated to the solarization of 15 lakh grid-connected agriculture pumps.

In February, recognizing the significant challenges posed by the Covid-19 pandemic, the government extended the PM-KUSUM scheme's timeline till March 2026. This extension reflects the scheme's importance in advancing sustainable agriculture and energy security for farmers across India. It empowers farmers by providing them with greater control over their livelihoods, improving irrigation capacity, and reducing dependency on conventional energy sources, all while contributing to India's energy security and environmental goals.

Also Read:- 1,851 Agriculture & Rural Development Banks to Embrace Computerization, Undergo Digital Conversion