Shakti Pumps Buoyant on Govt’s Scheme for Solar Irrigation Pumps

As per the government sources, the project envisages implementation of overall 2.75 lakh agricultural pumps for FY 2019-20, the company added.

One of the leading water pumps and motors makers Shakti Pumps India Ltd is quiet optimistic about the government’s mega scheme called Kisan Urja Suraksha Evam Utthan Mahabhiyan (KUSUM), for boosting use of solar-powered irrigation pumps.

The company said in a exchange filing that, “the Government of lndia has announced a mega scheme namely Pradhan Mantri Kisan Urja Suraksha Evam Utthan Mahabhiyan (PM-KUSUM) with an objective to scale up use of solar energy for irrigation pumps.”

On the sidelines of the government announcement, this solar irrigation pumps manufacturer believes that, the new scheme would immensely help farmers and will contribute to climate change mitigation efforts by reduction in carbon footprints while doubling the farmers’ income by selling excess solar energy to Discoms.

It further added that, the scheme has following components related to its line of business:

i). Installation of 17.50 Lakh standalone solar agricultural pumps.
ii). Solarisation of 10 lakh grid-connected agricultural pumps.

As per the government sources, the project envisages implementation of overall 2.75 lakh agricultural pumps for FY 2019-20, the company added.

Meanwhile, the solar irrigation solution provider Shakti Pumps believes that it would be greatly benefitted from this development.

Recently, the Ministry of New and Renewable Energy (MNRE) has issued guidelines for implementation of Rs 34,422 crore PM-KUSUM Scheme with an objective to provide relief to farmers in terms of both financial security and water access via solar power generation at their agricultural farms; and use clean energy to replace existing diesel water pumps.

In February this year, the Cabinet Committee on Economic Affairs (CCEA) had approved the launch of KUSUM scheme with an estimated budget of Rs 34,422 crore which involves setting up of 25,750-MW solar capacity by 2022.