Shakti Pumps (India) has informed that the Government of India has announced a mega scheme namely Pradhan Mantri Kisan Urja Suraksha Evam Uttham Mahabhiyan (PM-KUSUM) with an objective to scale up use of solar energy for irrigation pumps. The new scheme would immensely help the 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. The scheme has components: lnstallation of 17.50 Lakh Stand-alone Solar Agricultural Pumps; and Solarisation of 10 Lakh Grid Connected Agricultural Pumps, related to its line of business. As per government sources, the project envisages implementation of overall 2.75 Lakh agricuitural pumps for the financial year 2019-20. Being a leading solar irrigation solution provider, the company believes, the company would be greatly benefitted from the above developments.
The above information is a part of company’s filings submitted to BSE.
