Jain Irrigation Systems Limited has received a Letter of Empanelment from Maharashtra State Electricity Distribution Company Limited (MSEDCL). The contract is for the supply and installation of 5,000 Off-Grid DC Solar Photovoltaic Water Pumping Systems (SPWPS) across Maharashtra. The total value of the contract is ₹117.96 crore, inclusive of GST, and is expected to be completed within 60 days.
Jain Irrigation Empaneled for Large Solar Project
Jain Irrigation Systems Limited has been emaneled by the Maharashtra State Electricity Distribution Company Limited (MSEDCL) for a significant project focused on renewable energy. This empanelment marks a key development for the company in the solar energy sector, particularly within Maharashtra.
Contract Details and Scope
The contract involves the supply and installation of 5,000 Off-Grid DC Solar Photovoltaic Water Pumping Systems (SPWPS). These systems will be deployed across various locations in Maharashtra under the ‘Magel Tyala Saur Krushi Pump Yojana’. The total value of this substantial order stands at ₹117.96 crore, which includes Goods and Services Tax (GST).
The comprehensive scope of work encompasses the entire lifecycle of the project, including the design, manufacture, supply, transportation, installation, testing, and commissioning of the solar pumping systems. The systems to be supplied are rated at 3 HP, 5 HP, and 7.5 HP, catering to agricultural needs.
Project Timeline and Further Information
Jain Irrigation Systems Limited is slated to complete this extensive project within a compact timeframe of 60 days. The company has formally communicated this development to the stock exchanges, adhering to regulatory disclosure requirements. The empanelment underscores MSEDCL’s trust in Jain Irrigation’s capabilities to deliver critical renewable energy infrastructure projects.
The details provided align with the requirements of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the recent SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023. Jain Irrigation Systems Limited confirmed that neither its promoters nor any promoter group companies have any interest in MSEDCL, and the transaction does not fall under related party transactions.
Source: BSE
