Crompton secures a landmark order for Solar Pumps, under the esteemed PM Kusum Scheme

India's most trusted brand and a pioneer in pumps, Crompton Greaves Consumer Electricals Limited has secured a landmark solar pumps work order under the esteemed PM Kusum Scheme for the state of Haryana. The company has been granted the inaugural work order of supplying, installing, and commissioning of 7.5 HP and 10 HP Solar Submersible Water Pumping Systems by the New & Renewable Energy Department Haryana and HAREDA. This milestone is part of a broader initiative led by SECI (Solar Energy Corporation of India) and MNRE (Ministry of New & Renewable Energy), aiming to replace and establish new connections for 6.6 lakh pumps across India.

Today, solar energy plays a pivotal role in providing a clean and sustainable energy source that protects the environment and reduces carbon footprint. Solar-powered solutions not only help in curbing greenhouse gas emissions, but also significantly reduces energy costs for farmers, thereby, making it a win-win for the agricultural sector and the planet. Recognizing the sustainable impact of solar energy, Crompton has taken a step forward towards a sustainable & greener future by its new range introduction of solar powered pumps.

With an aim to create significant footprints in the renewable energy segment, the company is aiming to deploy a significant number ofsolar pumps under PM Kusum Scheme in the next 2 years,supported by a wide spread after sales service network and technically qualified channel partners across India. This is achieved through state of the art R&D and manufacturing facilities and a rigorous 5-stage product development process, resulting in a wide range of highly energy-efficient and innovative solar water pumps.

Speaking on this occasion, Rajat Chopra, VP and Business Head, Pumps at Crompton Greaves Consumer Electricals Ltd. said, "At Crompton, we take immense pride in our legacy of bringing innovation that enrichesthe lives of our consumers. Pumps are a critical application in delivering water and ensuring uninterrupted flow of essential utilities. While we have established ourselves as a leader in the residential pumps market, this achievement will further reinforce our leadership position as a frontrunner in the solar water pumps category. This strategic move underlines our commitment to delivering cutting-edge and sustainable solutions while also ensuring the economic viability of farming operations. We are thrilled to be a part of thistransformative journey, harnessing the potential ofsolar energy to revolutionize the agricultural pumps industry."

Crompton had actively engaged in the tender process for four states - Maharashtra, Haryana, Rajasthan, and Madhya Pradesh. The initial groundwork, overseen by SECI and MNRE, hastransitioned to the respective state nodal agencies-HAREDA (Haryana), MEDA, MSEDCL (Maharashtra), MPUVNL (Madhya Pradesh) and RHDS, RUVVNL (Rajasthan)-for the final execution phase. While Crompton is set to kick-start its operations with HAREDA with the work order, they are equally prepared to make a meaningful impact in Rajasthan, Maharashtra, and Madhya Pradesh.

Shares of Crompton Greaves Consumer Electricals Limited was last trading in BSE at Rs. 313.35 as compared to the previous close of Rs. 309.25. The total number of shares traded during the day was 189343 in over 3841 trades.

The stock hit an intraday high of Rs. 314.00 and intraday low of 308.95. The net turnover during the day was Rs. 59100005.00.

Source : Equity Bulls

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