Oswal Pumps Secures Landmark 63 MW Rooftop Solar Projects under PM Surya Ghar Yojana in Bihar
Oswal Pumps Limited has secured a significant strategic win, achieving Letters of Award (LOAs) for setting up 63 MW of Grid-Connected Rooftop Solar Projects across Bihar. These projects fall under the CAPEX plus RESCO Model Utility-Led Aggregation (ULA) model of the PM Surya Ghar - Muft Bijli Yojana (PMSG-MBY).The contracts were awarded by North Bihar Power Distribution Company Limited (NBPDCL) and South Bihar Power Distribution Company Limited (SBPDCL). These projects span the Motihari, Saharsa, and Ara Circles in the state of Bihar. The company is responsible for the design, engineering, and manufacture/procurement of these systems for 57,492 consumer installations.
The successful deployment of these projects signifies a major step for Oswal Pumps into the distributed rooftop solar segment, diversifying the company's revenue streams beyond its existing portfolio in agricultural sectors.
Project Scope and Commercial Details
The contracts encompass the entire lifecycle of the solar plants, including design, engineering, quality assurance testing, transportation, storage, erection (including civil/structural works), electrical and general works, cabling, installation, commissioning, project financing, and mandatory 10 years of Operations and Maintenance (O&M).Key financial and operational details of the order are provided below:
| Metric | Details |
|---|---|
| Awarding Entity | North Bihar Power Distribution Company Limited (NBPDCL) & South Bihar Power Distribution Company Limited (SBPDCL) |
| Cumulative Capacity | 63 MW |
| Installation Order Value | Approximately Rs. 247 Crore |
| Long-Term Revenue Potential | Approximately Rs. 257 Crore over a 10-year horizon from energy supply under the RESCO model |
| Timeline for Commissioning | Within 9 months from the execution of the respective Power Purchase Agreements (PPAs) |
| Operational Commitment | Mandatory 10 years of O&M |
Strategic Importance and Company View
The project represents a strategic diversification for Oswal Pumps into large-scale residential rooftop solar deployment. This development enhances the company's long-term revenue visibility through annuity-style RESCO income streams, complementing its presence in other sectors.Commenting on the achievement, Mr. Vivek Gupta, Chairman and Managing Director of Oswal Pumps Limited, stated that the award is a pivotal milestone for the company as it scales its participation in the PM Surya Ghar programme. He noted that the order not only underscores the company's execution capabilities but also marks a strategic shift towards diversifying revenue streams beyond PM Kusum.
Oswal Pumps Limited maintains a presence across various segments of the solar industry, operating as a vertically integrated provider of turnkey solar pumping systems. The company holds certifications including ISO 9001:2015, ISO 45001:2018, and ISO 14001:2015. It serves both agricultural, residential, and industrial sectors with its range of grid-connected submersible and monoblock pumps.
OSWALPUMPS Stock Price Movement
Oswal Pumps Limited shares rallied on Friday, closing at ₹398.20 after gaining 7.18%, fueled by strong investor interest in the Capital Goods sector. The stock saw high trading activity, with 582,963 shares transacted and traded within an intraday range of ₹378 to ₹400.45.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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