Oswal Pumps Secures ₹500+ Crore Rooftop Solar Orders in Bihar under PM Surya Ghar Yojana

Oswal Pumps Ltd has secured a major order for 63 MW of grid-connected rooftop solar projects in Bihar under the PM Surya Ghar – Muft Bijli Yojana. The projects, awarded by NBPDCL and SBPDCL, will cover 57,492 consumer installations across the Motihari, Saharsa, and Ara circles. Financial & Project Details: Order Value: The immediate installation order is valued at approximately ₹247 crore. Long-Term Revenue: The company estimates an additional ₹257 crore in revenue over a 10-year period under the RESCO model, bringing the total cumulative opportunity to over ₹500 crore. Scope & Model: Executed under a CAPEX plus RESCO model, the end-to-end scope includes design, engineering, procurement, installation, financing, and a 10-year operation and maintenance (O&M) contract. Timeline: All installations are scheduled to be commissioned within 9 months of Power Purchase Agreement (PPA) execution. Each household will receive ~15,000 units of solar power over the contract period. Strategic Significance: Business Diversification: This landmark win marks a strategic shift for Oswal Pumps, reducing its reliance on the PM Kusum scheme and expanding its footprint in the large-scale residential rooftop solar segment. Annuity Income: The 10-year RESCO component provides stable, long-term, annuity-style revenue visibility, enhancing the company's financial predictability. Policy Alignment: Directly capitalizes on the government's push for decentralized clean energy and subsidized electricity for households. Outlook: This order significantly bolsters Oswal Pumps' order book and establishes it as a key player in the distributed solar ecosystem. The successful execution of nearly 58,000 installations within the 9-month timeline will be critical to realizing the immediate CAPEX revenues and setting the stage for long-term RESCO returns. $OSWALPUMPS