Alpex Solar Limited (NSE Emerge: ALPEXSOLAR), India’s leading manufacturer of solar systems, announced that it has received prestigious orders for the supply, installation and commissioning of 1434 solar water pumping systems from The Director General, Department of New & Renewable Energy Haryana (HAREDA), Panchkula. The orders have been received under the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan Yojana (PM-KUSUM Scheme).
The Noida-based company received the first order for 845 solar water pumps worth Rs. 26.49 crore under the Component-B of PM Kusum scheme for the design, manufacture, supply, installation, testing, and commissioning of Solar Water Pumping Systems (SWPS) at 845 locations across the state of Haryana. The second order is for supplying, installing, and commissioning 589 Solar Water Pumping Systems worth Rs. 17.21 core from HAREDA, Panchkula.
Speaking on the new orders, Ashwani Sehgal, Managing Director, Alpex Solar Limited, said, “The new orders from Govt of Haryana reinforce our commitment to timely delivery and finest quality service. We are prioritising the solar water pumps business to strengthen the leadership in this space and aim to be a pan-India leader in installing solar water pumps. We further strive to expand footprints in various green energy applications in the agriculture sector with innovative methods”.
Alpex Solar Ltd. is also empaneled and approved for the installation of solar water pumps in the state of Rajasthan.
“The installation of solar pumps boosts the rural economy and encourages a sustainable world by introducing green energy to farmer communities. The solar water pump would result in better productivity of food grains and various crops. It will also empower the overall well-being of the farmer community”, added Ashwani.
Govt of India’s flagship scheme, Pradhan Mantri Kisan Urja Suraksha Evam Utthaan Mahabhiyan (PM-KUSUM), is aimed at ensuring energy security for farmers in India, along with honouring India’s commitment to increase the share of installed capacity of electric power from non-fossil-fuel sources to 40% by 2030 as part of Intended Nationally Determined Contributions (INDCs). Under the Component-B of the scheme, individual farmers will be supported in installing standalone solar agriculture pumps of capacity up to 7.5 HP for replacement of existing diesel agriculture pumps / irrigation systems in off-grid areas where grid supply is not available. Pumps of capacity higher than 7.5 HP can also be installed.
ABOUT ALPEX SOLAR LIMITED (INE0R4701017)
Alpex Solar was incorporated in 1993 by first-generation entrepreneurs Ashwani Sehgal, Monica Sehgal, and Vipin Sehgal, and manufactures PV modules using both monocrystalline and polycrystalline cell technologies. Its product portfolio comprises bifacial, mono-perc, and Halfcut solar PV modules. It also offers comprehensive solar energy solutions, including engineering, procurement, and construction (EPC) of AC/DC Solar Pumps in both Surface and Submersible categories. The Greater Noida-based company also serves as a contract manufacturer for several large companies, such as Luminous, Jakson and Tata Power. Its solar panels are delivered with a specific focus on EPC companies such as Solarworld Energy Solutions Pvt Ltd, BVG India Limited, Tata Power, HAREDA, PEDA and many more. Alpex Solar registered a revenue of Rs. 207.13 crore in H1FY2024, as against Rs. 183.93 crore in FY2023. The company’s PAT stood at Rs. 10.02 crore in H1FY2024 as compared to Rs. 3.74 crore in FY2023.
The Company forayed into Solar panel manufacturing in 2007 and built a state-of-the-art facility spread over 150,000 sq. ft. in Greater Noida with a 450 MW capacity, which can be further expanded to 1.2 GW within the same infrastructure. Owing to its R&D prowess, manufacturing excellence and a deep talent pool, the company has emerged among the preferred suppliers of PV panels. The company has 200+ employees – including celebrated professionals from within and beyond the solar sector experience. The company was listed on NSE Emerge in February 2024.
