Premier Energies Wins Rs. 215 Crore Solar Pumping Systems Order Under PM-KUSUM Scheme

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Premier Energies Secures Rs. 215 Crore Order for Solar Water Pumping Systems in Uttar Pradesh

Team FS

05/Sep/2024

What's covered in the Article:

Premier Energies Limited has received a Rs. 215 Crore order for installing solar water pumping systems across Uttar Pradesh.

The project is part of the PM-KUSUM scheme, aiming to enhance energy security for farmers and boost renewable energy.

Completion of the project is scheduled by March 2025, supporting India’s commitment to increase non-fossil-fuel energy capacity.

On September 5, 2024, Premier Energies Limited announced a significant achievement under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has secured a major contract from the Uttar Pradesh Department of Agriculture for the supply, installation, and commissioning of 8,085 solar water pumping systems. This substantial project is valued at Rs. 215 Crores and is expected to be completed by March 2025.

This initiative is part of Component-B of the PM-KUSUM (Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan) scheme. The scheme is designed to ensure energy security for farmers by promoting solar energy solutions and aligns with India's commitment to increase the share of installed capacity of electric power from non-fossil-fuel sources to 40% by 2030, as outlined in the Intended Nationally Determined Contributions (INDCs).

The contract includes the comprehensive supply, installation, and commissioning of the solar water pumping systems, which will significantly enhance the sustainability and energy efficiency of agricultural operations in Uttar Pradesh. The project, being a domestic contract, will help in supporting local energy infrastructure and contributing to the broader goals of renewable energy development in India.

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Premier Energies Secures Rs. 215 Crore Order for Solar Water Pumping Systems in Uttar Pradesh

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