Oswal Pumps Limited has received three letters of award totalling 63 megawatt (MW) of grid-connected rooftop solar projects from North Bihar Power Distribution Company Limited and South Bihar Power Distribution Company Limited under the PM Surya Ghar - Muft Bijli Yojana. The projects cover 57,492 consumer installations across the Motihari, Saharsa and Ara circles in Bihar. The awards form part of a utility-led aggregation model aimed at distributed residential rooftop deployment.

The contracts are to be executed under a CAPEX plus RESCO mode with an end-to-end scope covering design, engineering, procurement, manufacture, transportation, installation, grid integration, testing and commissioning and a mandatory 10-year operation and maintenance obligation. The scope also includes provision for data acquisition and communication to a centralised monitoring system of the Bihar distribution companies and any permits, financing and insurance required at all stages. All installations are to be commissioned within nine months of execution of the respective power purchase agreements.

The aggregate installation order value is approximately Rs. 2,470 million (mn), equivalent to Rs. 2.47 billion (bn), with an estimated long-term revenue potential of about Rs. 2,570 million (mn) or Rs. 2.57 billion (bn) over a 10-year horizon from energy supply under the RESCO model. Taken together, the cumulative revenue opportunity exceeds Rs. 5,000 million or Rs. 5.00 billion. The contracts therefore provide annuity-style revenue visibility alongside project execution fees.

The company said the awards mark a pivotal milestone in its strategic diversification towards large-scale residential rooftop deployment and will reduce reliance on PM Kusum-led demand while enhancing long-term revenue visibility. The announcement was presented as evidence of the company's execution capabilities and its transition into annuity-style RESCO income streams. Oswal Pumps is described as a vertically integrated solar pump manufacturer with a two-decade legacy in pump engineering and manufacturing, accredited with ISO 9001:2015, ISO 45001:2018 and ISO 14001:2015 and listed on the Ministry of New and Renewable Energy approved list of models and manufacturers. The projects are expected to expand the company's pan-India distribution reach and support India's decentralised clean energy objectives.