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Saatvik Green Energy Wins Major Solar Irrigation Contract in Maharashtra

Saatvik Green Energy Limited has secured a contract worth approximately ₹100 crore from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for the supply and installation of 5,000 solar-powered water pumping systems across Maharashtra.

The contract strengthens the company's presence in India's decentralised renewable energy market and expands its participation in solar-powered agricultural infrastructure.

The project is intended to support farmers by providing solar-based irrigation solutions that can reduce dependence on conventional electricity supplies and diesel-powered pumping equipment.

The order represents a significant addition to Saatvik Green Energy's solar pump business as state electricity distribution utilities continue implementing programmes aimed at increasing the use of renewable energy in agriculture.

Solar water pumping systems have become an important part of India's agricultural energy transition, particularly in regions where irrigation depends on conventional grid electricity or diesel generators.

The Maharashtra contract provides Saatvik Green Energy with an opportunity to participate in this transition through the installation of 5,000 systems.

Key Details of the ₹100 Crore MSEDCL Solar Pump Order

Based on the reported contract value and number of systems, the average contract value works out to approximately ₹2 lakh per solar pump.

This is a simple arithmetic average and should not be interpreted as the retail price of an individual system or the amount payable by a farmer.

Actual system costs may differ according to pump capacity, installation conditions, equipment specifications and contractual requirements.

The project-specific delivery schedule, payment milestones and detailed technical specifications have not been established from the headline announcement alone.

Contract Covers 3 HP, 5 HP and 7.5 HP Off-Grid Solar Pumps

The order, received on October 10, 2026, covers the design, manufacture, supply, transportation, installation, testing and commissioning of 5,000 off-grid DC solar photovoltaic water pumping systems.

The equipment will be installed at identified farmers' sites across Maharashtra.

Three pump capacities are included in the contract: 3 horsepower (HP), 5 HP and 7.5 HP.

Different capacities allow pumping systems to serve agricultural applications with varying water requirements and installation conditions.

The order value is approximately ₹100 crore, excluding GST.

Confirmed Contract Terms

The installation deadline is calculated from the issuance of the Notice to Proceed or work order by the respective MSEDCL circle office, rather than automatically beginning on the date the company received the overall contract.

Installation and Commissioning to Be Completed Within 60 Days

Saatvik Green Energy is required to install and commission the solar pumping systems within 60 days of receiving the relevant work order from the respective circle office.

The execution period creates a defined implementation schedule for the company.

The project will require coordination across equipment manufacturing, logistics, site preparation, installation and testing.

Because the pumps are intended for identified agricultural locations, deployment will involve multiple sites rather than a single centralised facility.

Each installation must be completed according to the applicable technical requirements.

The company will also need to establish the arrangements necessary to support the systems during the warranty and maintenance period.

Timely completion will be important for recognising project revenue and meeting contractual obligations.

Five-Year Warranty and Remote Monitoring Included

The MSEDCL contract extends beyond the initial installation of solar water pumps.

Saatvik Green Energy will provide a five-year warranty covering the systems, along with repair, maintenance and remote monitoring services.

These requirements are important because solar pumping equipment operates in outdoor agricultural environments.

The systems may be exposed to dust, temperature variations, weather conditions and frequent operational use.

Routine maintenance can help identify equipment problems and support reliable performance.

Remote monitoring systems can provide information about equipment operation and assist with identifying certain technical issues.

The inclusion of long-term service obligations means Saatvik Green Energy will remain responsible for specified support activities after commissioning.

The company must therefore account for maintenance resources and service costs when managing the contract.

Project Falls Under Maharashtra's Solar Agriculture Programme

The order has been awarded under the Magel Tyala Saur Krushi Pump Yojana, linked to the central government's PM-KUSUM Component B programme.

The initiative supports the deployment of standalone solar-powered agricultural pumping systems.

PM-KUSUM is intended to increase the use of renewable energy in agriculture and reduce dependence on conventional energy sources for irrigation.

Component B focuses on standalone solar agriculture pumps.

Such systems can be particularly useful in areas where grid electricity is unavailable, unreliable or difficult to extend.

For farmers, solar-powered irrigation can provide an alternative to diesel-powered pumps and conventional electricity-dependent equipment.

However, the economic benefits depend on installation costs, applicable subsidies, equipment performance, irrigation requirements and maintenance.

The Maharashtra programme forms part of the wider effort to increase renewable energy use in rural infrastructure.

How Off-Grid Solar Water Pumps Work

Off-grid solar water pumps use electricity generated by photovoltaic panels to operate a water pumping system.

Unlike conventional grid-connected pumps, these systems can operate without a continuous electricity connection.

The main components generally include solar panels, a pump, a motor, an electronic controller and supporting installation equipment.

During daylight hours, solar panels convert sunlight into electricity.

The electricity powers the pump, allowing water to be drawn from an available source and delivered for irrigation.

System performance depends on sunlight availability, pump capacity, water depth and other site conditions.

The use of solar power can reduce diesel consumption and electricity purchases where the system replaces conventional pumping equipment.

However, solar pumping systems do not guarantee uninterrupted water supply under all conditions.

Water availability, weather, equipment maintenance and system design remain important factors.

Saatvik Green Energy Expands Its Solar Pump Business

The latest MSEDCL order builds on Saatvik Green Energy's previous participation in Maharashtra's solar irrigation programme.

In December 2025, the company secured an order for 815 solar water pumps valued at approximately ₹13.50 crore.

It subsequently received an additional order for 1,000 pumps worth approximately ₹16.74 crore.

Those contracts brought the previously disclosed total to 1,815 pumps with an aggregate value of approximately ₹30.24 crore.

The new order for 5,000 pumps is substantially larger than those earlier awards.

It represents an expansion in the scale of the company's solar irrigation activities.

The development also strengthens its relationship with MSEDCL as a customer for decentralised renewable energy equipment.

Company Continues Expanding Solar Manufacturing Capacity

Saatvik Green Energy is headquartered in Gurugram and operates in solar photovoltaic module manufacturing and related engineering services.

The company has established manufacturing operations in Haryana and is pursuing additional capacity expansion.

Its existing solar module manufacturing capacity has been reported at approximately 3.8 GW, with further expansion planned.

The company is also developing integrated solar cell and module manufacturing capabilities in Odisha through its subsidiary Saatvik Solar Industries.

These investments are intended to strengthen its position across the solar manufacturing value chain.

The solar water pump business provides an additional avenue for participating in renewable energy deployment beyond large utility-scale projects.

However, the financial contribution of solar pumping contracts depends on equipment costs, installation efficiency and contractual margins.

Agricultural Solarisation Creates Opportunities for Renewable Energy Companies

India's agricultural sector represents an important market for decentralised solar energy solutions.

Farmers require electricity or fuel to operate irrigation equipment, particularly in areas dependent on groundwater pumping.

Solar-powered systems can reduce exposure to diesel prices and certain electricity supply constraints.

Government-supported programmes have encouraged the installation of solar pumping equipment through financial assistance and implementation partnerships.

For manufacturers and EPC companies, these programmes create demand for solar modules, pumps, controllers and associated installation services.

However, project economics depend on tender pricing, equipment specifications, logistics and maintenance commitments.

Companies must also manage working capital requirements because installation and commissioning activities can involve expenses before final payments are received.

The MSEDCL contract provides Saatvik Green Energy with additional business visibility, subject to successful execution.

What the ₹100 Crore Order Means for Saatvik Green Energy

The contract represents a meaningful addition to Saatvik Green Energy's solar irrigation project pipeline.

It expands the number of systems the company is contracted to deploy and provides an opportunity to strengthen its operational experience in decentralised solar infrastructure.

The project also includes recurring service responsibilities over five years, although the company has not disclosed a separate financial value for maintenance services.

The ₹100 crore contract value should not be interpreted as immediate revenue.

Revenue recognition will depend on the company's performance obligations, project execution and applicable accounting requirements.

The announcement also does not establish the project's expected operating margin or net profit contribution.

Investors will need to assess subsequent financial disclosures to understand the actual impact on earnings and cash flows.

Conclusion

Saatvik Green Energy's approximately ₹100 crore contract from Maharashtra State Electricity Distribution Company Limited marks a significant expansion of its solar water pumping business.

The order covers 5,000 off-grid DC solar photovoltaic pumping systems with capacities of 3 HP, 5 HP and 7.5 HP.

The project will be executed under Maharashtra's Magel Tyala Saur Krushi Pump Yojana and the PM-KUSUM Component B programme.

Installation and commissioning must be completed within 60 days of the applicable work order, while the company will provide warranty, maintenance and remote monitoring services for five years.

The contract strengthens Saatvik Green Energy's participation in agricultural solarisation and reinforces its relationship with MSEDCL.

Its eventual financial contribution will depend on timely deployment, cost management and successful fulfilment of the long-term service obligations.