GK Energy Limited has secured a Letter of Empanelment (LoE) from the Maharashtra State Electricity Distribution Company Limited (MSEDCL) for the supply and installation of 10,000 Off-Grid DC Solar Photovoltaic Water Pumping Systems (SPWPS). The contract, valued at Rs 235.92 crore inclusive of GST, was disclosed in a stock exchange filing under SEBI Listing Regulations.
Scope of the Empanelment
The LoE covers pumps of 3 HP, 5 HP, and 7.5 HP for the entire state of Maharashtra under the Magel Tyala Saur Krushi Pump Yojana. According to the company's filing, the scope includes the "Design, Manufacture, Supply, Transport, Installation, Testing and Commissioning of Off-Grid DC Solar Photovoltaic Water Pumping Systems (SPWPS)."
Execution Timeline and Order Details
The total value of the 10,000 pumps is Rs 235.92 crore, and the project must be executed within 60 days from the issuance of a formal work order or Notice to Proceed (NTP). The filing specifies that the order is a "one time" order awarded by a domestic entity. GK Energy also confirmed that its promoter, promoter group, and group companies have no interest in the awarding entity, and the contract does not fall under related-party transactions.
About the Magel Tyala Saur Krushi Pump Yojana
The Magel Tyala Saur Krushi Pump Yojana is a Maharashtra government scheme aimed at promoting solar-powered irrigation. By providing off-grid solar pumps, the scheme reduces dependence on grid electricity and diesel, benefiting farmers across the state. The empanelment of GK Energy marks a significant step in deploying renewable energy solutions for agriculture.
