Ahmedabad-based Amrut Energy, a solar water pumps manufacturer and renewable energy solutions provider, has secured ₹1 billion (~$11.49 million) in funding from private equity investors.

The company aims to utilize the investment to expand manufacturing capabilities, drive research and development, and scale operations across underserved regions.

It will also use the new investment to accelerate innovation in solar technology, improve production efficiency, and extend its market reach to regions with limited access to reliable irrigation solutions.

Amrut Energy specializes in manufacturing solar-powered water pumps. These systems aim to provide farmers access to free and reliable electricity for irrigation to reduce dependence on conventional energy sources and lowering costs.

As of October last year, over 500,000 standalone solar pumps were installed in India under the PM-KUSUM program. The program aims to reduce the use of diesel in the agricultural sector and enhance farmers’ incomes.

Among the states, Maharashtra emerged as the top performer with 197,863 installations, followed by Haryana with 136,572 pumps. Rajasthan has installed 85,635 pumps, while Uttar Pradesh and Jharkhand have installed 53,182 and 21,522 pumps, respectively.

Under the program, standalone solar pumps and the solarization of existing grid-connected agricultural pumps can receive 30% to 50% subsidies of the total setup cost. Farmers can also install grid-connected solar power projects of up to 2 MW on their barren/fallow land and sell electricity to local distribution companies at a tariff determined by the state regulator.

In January, Dakshin Gujarat Vij Company awarded contracts for developing 64 solar projects with a combined capacity of 160 MW under Component C of the PM-KUSUM program for feeder-level solarization.

In the same month, the Odisha Renewable Energy Development Agency issued a request for selection to set up 10,000 off-grid solar water pumps of capacities ranging from 1 HP to 7.5 HP under Component-B of the program.