GK Energy Secures ₹366.63 Crore Contract for Solar Pump Installations Across Maharashtra

GK Energy Limited has announced a new contract from the Maharashtra State Electricity Distribution Company Limited to deploy more than 13,000 off-grid solar water pumping systems across the state.

The award, valued at ₹366.63 crore including taxes, requires the company to complete design, supply, installation and commissioning activities within a defined 60-day period.

GK Energy Wins Major Solar Pump Deployment Order

The award from MSEDCL covers 13,239 Off-Grid DC Solar Photovoltaic Water Pumping Systems of 3 HP, 5 HP and 7.5 HP capacities. 

The project forms part of the Magel Tyala Saur Krushi Pump Yojana and the PM-KUSUM B Scheme, which aim to expand renewable-energy-based irrigation solutions for rural areas.

Contract Requirements and Timelines

Under the contract, GK Energy will oversee the design, manufacturing, supply, delivery, installation, testing and commissioning of the solar pumping systems. 

The company is expected to complete all work within 60 days from the issuance of the formal work order or Notice to Proceed.

Nature of the Award and Compliance Details

MSEDCL, a domestic public-sector utility, has issued the contract on a one-time basis. GK Energy has clarified that neither its promoters nor related entities have any interest in the awarding organisation, and the transaction does not qualify as a related-party arrangement under SEBI provisions.

Financial Value of the Project

The total size of the order stands at ₹366.63 crore, inclusive of GST. The contract is expected to contribute to GK Energy’s operational pipeline in the short term, given its compressed completion timeline.

GK Energy Share Price Performance

GK Energy’s equity shares were trading at ₹148.32, marking a rise of 2.73% from the previous close of ₹144.38.

Read More: JSW Energy Share Price in Focus: GQG Sells ₹677 Crore Stake — 3 Key Things Investors Should Watch.

Conclusion

The new order strengthens GK Energy’s ongoing participation in decentralised renewable energy initiatives in Maharashtra.

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