Shakti Pumps (India) announced that the Government of India has announced a mega scheme namely Pradhan Mantri Kisan Urja Suraksha Evam Uttham Mahabhiyan (PM-KUSUM) with an objective to scale up use of solar energy for irrigation pumps.

The new scheme would immensely help the farmers and will contribute to climate change mitigation efforts by reduction in carbon footprints while doubling the farmers' income by selling excess solar energy to DISCOMs. The scheme has following components related to the company's line of business:

1.

Installation of 17.50 Lakh Stand-alone Solar Agricultural Pumps. 2. Solarisation of 10 Lakh Grid Connected Agricultural Pumps.

As per government sources, the project envisages implementation of overall 2.75 Lakh agricultural pumps for the financial year 2019-20. Being a leading solar irrigation solution provider, the company believes, it would be greatly benefitted from the above developments.

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