Saatvik Green Energy has received a commercial order from Maharashtra State Electricity Distribution Company (MSEDCL) for the supply of solar photovoltaic water pumping systems, strengthening its presence in the agri-solar segment.

The order involves the supply of 1,000 solar photovoltaic water pumps with an approximate contract value of Rs 160.74 million. As part of the scope of work, Saatvik Green Energy will undertake the installation and commissioning of the systems. The project is scheduled to be completed within 60 days from the issuance of the notice to proceed or work order by the concerned MSEDCL circle office.

The company clarified that the contract has been awarded by a domestic entity and does not involve any promoter or promoter group interest. It also stated that the order does not qualify as a related party transaction, in line with regulatory disclosure requirements.

Solar-powered water pumping systems are a key component of India’s push towards renewable energy adoption in agriculture. These systems help farmers reduce dependence on grid electricity and diesel, lower operating costs, and ensure reliable access to irrigation, particularly in power-deficit and rural areas. The MSEDCL order aligns with broader state and central government initiatives to promote clean energy solutions in the agricultural sector.

Saatvik Green Energy is an integrated solar energy solutions provider engaged in the manufacturing of high-efficiency photovoltaic modules and the execution of engineering, procurement and construction (EPC) services across utility-scale, commercial and industrial solar projects.

On the financial front, the company reported strong growth in the second quarter of FY26. Net profit rose 36 per cent year-on-year to Rs 830.24 million in Q2 FY26 from Rs 610.20 million in Q2 FY25. Revenue from operations increased 61.6 per cent year-on-year to Rs 7.68 billion, compared with Rs 4.75 billion in the corresponding quarter of the previous fiscal.

The latest order adds to Saatvik Green Energy’s growing project pipeline and underscores continued demand for solar-based solutions across India’s power and agriculture sectors.

News source: Business Standard