Ahmedabad-based Amrut Energy has raised Rs 1 billion from private equity investors to expand its solar water pump manufacturing operations. The funding will support the company’s efforts in scaling production, enhancing research and development, and extending its reach to underserved regions. 

Amrut Energy specialises in solar-powered water pumps that provide farmers with reliable, cost-effective irrigation solutions while reducing dependency on conventional energy sources. The investment will accelerate innovation in solar technology and improve production efficiency. 

As of October 2024, India had installed over 500,000 standalone solar pumps under the PM-KUSUM program, aimed at reducing diesel use in agriculture and increasing farmer incomes. Maharashtra led with 197,863 installations, followed by Haryana (136,572), Rajasthan (85,635), Uttar Pradesh (53,182), and Jharkhand (21,522). The program offers subsidies of 30-50% for solar pump setups and allows farmers to install grid-connected solar projects up to 2 MW to sell power to local utilities. 

Recent developments under the PM-KUSUM program include Dakshin Gujarat Vij Company awarding contracts for 64 solar projects (160 MW capacity) and Odisha Renewable Energy Development Agency’s plan to install 10,000 off-grid solar pumps ranging from 1 HP to 7.5 HP. 

(mercom)