Gurgaon, February 12, 2025 – South West Pinnacle Exploration Limited (NSE: SOUTHWEST, BSE: 543986) has announced the receipt of a Letter of Intimation (LOI) from Odisha Lift Irrigation Corporation Limited for the installation of deep bore wells for a solar pumping system in the state of Odisha.
Key Contract Details
- Client: Odisha Lift Irrigation Corporation Limited
- Project Scope: Installation of deep bore wells for solar-powered irrigation
- Contract Value: ₹10.11 crore (including GST)
- Execution Timeline: Short-duration project
- Initial Security Deposit: 2% of total contract value
- Type of Contract: Domestic order
- Promoter Group Interest: None
- Related Party Transaction: No
Strategic Impact
This contract underscores South West Pinnacle Exploration’s growing footprint in infrastructure and sustainable energy projects. The solar-powered borewell system aligns with India’s renewable energy and irrigation initiatives, catering to the agricultural sector’s evolving needs.Management Commentary
The company stated that this contract reinforces its expertise in drilling and infrastructure services and adds to its portfolio of government-backed projects. The project is expected to contribute positively to the company’s financial performance over the execution period.Market Outlook
With an increasing emphasis on solar-powered irrigation and water management, the company is well-positioned to capitalize on similar infrastructure projects. The successful execution of this project may pave the way for further collaborations with government agencies in the sustainable energy sector.South West Pinnacle Exploration Ltd continues to strengthen its position as a key player in exploration and infrastructure services with a growing order book from government and private sector projects.