Key facts
- Oswal Pumps has won 63 MW of rooftop solar projects in Bihar.
- The projects are part of the PM Surya Ghar – Muft Bijli Yojana.
- The total revenue opportunity is estimated at over Rs 500 crore.
- The installation order value is approximately Rs 247 crore, with an additional Rs 257 crore potential over 10 years via the RESCO model.
- The projects will cover 57,492 residential consumer installations across three circles in Bihar.
Oswal Pumps' shares rose nearly 6% to Rs 422.85 following the announcement of securing 63 MW of grid-connected rooftop solar projects across Bihar under the Government of India's PM Surya Ghar – Muft Bijli Yojana. These projects, awarded by North Bihar Power Distribution Company Limited (NBPDCL) and South Bihar Power Distribution Company Limited (SBPDCL), represent a cumulative revenue opportunity exceeding Rs 500 crore. The installation order value for these projects is approximately Rs 247 crore, with an additional long-term revenue potential of around Rs 257 crore expected over 10 years through energy supply under the Renewable Energy Service Company (RESCO) model. The projects will cover 57,492 residential consumer installations across the Motihari, Saharsa, and Ara circles in Bihar.This strategic move diversifies Oswal Pumps' revenue streams beyond its traditional PM Kusum portfolio and strengthens its presence in the distributed rooftop solar segment, enhancing long-term earnings visibility through annuity-like income. The projects are slated for execution under a CAPEX-plus-RESCO model, encompassing design, installation, financing, and operations and maintenance for a decade, with a target commissioning within nine months of Power Purchase Agreement (PPA) execution. Vivek Gupta, Chairman and Managing Director of Oswal Pumps, highlighted the win as a pivotal step in the company's solar expansion strategy.