Maharashtra: Shakti Pumps Gets LoA For 4500 Solar Pumps

Shakti Pumps has received a Letter of Award (LoA) from the Maharashtra Energy Development Agency (MEDA). The latest order is for the supply and installation of 4,500 off-grid Solar Photovoltaic Water Pumping Systems (SPWPS) across various locations in Maharashtra, the company said in a regulatory filing.

The Indore-based solar pump manufacturer secured the order under Component B of the PM-KUSUM scheme. The contract is valued at ₹114.58 crore, inclusive of GST. The firm is expected to complete the work within 90 days of receiving the work order.

Ongoing Projects in Maharashtra

Dinesh Patidar, Chairman of the Group, while sharing details about the order book in the last quarter, said in a regulatory filing, “We are making very good progress in Maharashtra.” The firm has now secured multiple orders from Maharashtra and other states for establishing solar pumps to boost solar irrigation in the country. The latest order is likely to boost the financials of the firm. The company has already gone international with its international business, besides its plan to venture into solar module manufacturing and EV business. 

The company has now also improved its cash flow with the reduce payment cycles from the government entities, which as per their own claim, are their largest consumers.

Improved Payment Cycle & Increased Orders

When asked about payment delays in Maharashtra, Dinesh Patida,r Managing Director of Shakti Pump,s said, “We have significantly improved the payment cycle—from 178 days and 152 days earlier, we’ve brought it down. Our next target is 120 days, and this has been achieved alongside increased revenue.”

Commenting on the letter of intent and the empanelment for 25,000 pumps in Maharashtra, he said, “Shakti Pumps is performing exceptionally well. When the government portal opened for 15,000 of the 25,000 pumps, it was filled in less than three hours. Our customers were waiting for us—this achievement took our competitors over three months. We’re very proud of this.”

Clarity on the PM-KUSUM Scheme’s Future

When asked about the future of the PM-KUSUM scheme, set to conclude in FY2026, he said: “There is a demand for 4.5 crore pumps under this scheme. It’s a pilot project and planning is ongoing. No one has officially stated whether KUSUM will end or be extended into KUSUM 2 or KUSUM 3. The government is deliberating its next steps, and so are the companies.”

He added, “The Maharashtra Chief Minister has announced a plan to install 3.5 million pumps, while the Madhya Pradesh Chief Minister wants to install 3 million. That’s a combined total of 6.5 million pumps—a massive market. Despite the challenges, we are progressing steadily. Our sales figures this year compared to last year reflect this momentum, and we expect continued growth in the coming years.”