Oswal Pumps Ltd has secured orders worth ₹247 crore for the installation of 63 MW of grid-connected rooftop solar projects across Bihar under the PM Surya Ghar Muft Bijli Yojana.
The orders, awarded by North Bihar Power Distribution Co. Ltd (NBPDCL) and South Bihar Power Distribution Co. Ltd (SBPDCL), cover 57,492 consumer installations across the Motihari, Saharsa and Ara circles.
Revenue potential
Apart from the installation order value of ₹247 crore, the projects offer an estimated long-term revenue potential of ₹257 crore from energy supply over a 10-year period, taking the cumulative revenue opportunity to more than ₹500 crore.
Under the programme, each beneficiary household is expected to receive around 15,000 units of solar power during the contract tenure, reducing dependence on grid supply and generating sustained savings in energy costs.
Project execution
The projects will be executed under the Capex-plus-RESCO model, covering design, engineering, procurement, installation, commissioning, financing and operations and maintenance for 10 years.
All installations are expected to be commissioned within nine months of the execution of the power purchase agreement.
Management comment
“This award represents a pivotal milestone for Oswal Pumps as we scale our participation in the PM Surya Ghar programme and strengthen our position in the distributed solar ecosystem,” said Oswal Pumps Chairman and Managing Director Vivek Gupta.
“It not only underscores our execution capabilities but also marks a strategic shift towards diversifying revenue streams beyond PM Kusum,” he added.
Government scheme
PM Surya Ghar Muft Bijli Yojana is the Centre’s flagship rooftop solar programme aimed at promoting clean energy adoption among households through subsidised rooftop solar installations.