Oswal Pumps Wins ₹247 Crore Rooftop Solar Orders in Bihar
Oswal Pumps Limited received 3 LOAs for 63 MW rooftop solar projects in Bihar under PM Surya Ghar Yojana. The total order value is ₹247 crore, with an additional ₹257 crore revenue potential over 10 years. Projects to be commissioned within 9 months.
The orders represent a substantial new revenue stream and a strategic expansion into a key renewable energy segment, indicating a high impact on the company's future business.
The announcement details the awarding of significant new orders, which is a positive development for the company's revenue and market presence.
Oswal Pumps Limited has secured three Letters of Award (LOAs) from North Bihar Power Distribution Company Limited (NBPDCL) and South Bihar Power Distribution Company Limited (SBPDCL) for setting up a cumulative capacity of 63 MW of Grid-Connected Rooftop Solar Projects. These projects are part of the PM Surya Ghar - Muft Bijli Yojana (PMSG-MBY) and will be implemented across the Motihari, Saharsa, and Ara Circles in Bihar under the CAPEX plus RESCO Mode Utility - Led Aggregation (ULA) model.
The aggregate installation order value is approximately ₹247 crore. Additionally, there is a long-term revenue potential of approximately ₹257 crore over a 10-year horizon from energy supply under the RESCO model, making the total cumulative revenue opportunity over ₹500 crore. This strategic move diversifies the company's revenue streams beyond its traditional PM Kusum portfolio and strengthens its presence in the distributed rooftop solar segment.
The scope of work includes design, engineering, procurement, installation, commissioning, financing, and a mandatory 10-year operation and maintenance (O&M) of the rooftop solar systems. The projects are expected to be commissioned within nine months from the execution of the respective Power Purchase Agreements (PPAs).
Mr. Vivek Gupta, Chairman and Managing Director of Oswal Pumps Limited, stated that this award is a pivotal milestone, underscoring the company's execution capabilities and strategic shift towards diversifying revenue streams. He emphasized the commitment to delivering high-quality installations and supporting India's transition to clean, decentralized energy.
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Oswal Pumps Limited filed this with the NSE as a statutory disclosure, categorised under new orders. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Oswal Pumps Limited. Read the original for the full detail.