Hyderabad: PM Green Private Limited, a subsidiary of Power Mech Projects Ltd, has secured a major order to supply and install a 1 GWh Battery Energy Storage System (BESS) order from the West Bengal State Electricity Distribution Company Ltd (WBSEDCL). This infrastructure upgrade is expected to help WBSEDCL to generate revenues of around Rs.1,563 crore, a press release by the company said.
The project, to be implemented under the Build, Own, Operate (BOO) model, includes designing, financing, engineering, procuring, operating and maintaining the BESS facility at the Goaltore substation. The company also has an addition greenshoe option to set up a 250MW/1,000 MWh BESS facility at the Durgapur Project Limited campus. The combined order value comes up to ₹3,126 crore, excluding GST.
The project is scheduled to be commissioned within 18 months from signing the Battery Energy Storage Purchase Agreement (BESPA), with the contract to run the facility set at 15 years, with an additional 5-year provision for extension.
“As India crosses the monumental threshold where renewable energy exceeds 50% of our installed capacity, green energy is the next great challenge. We need advanced peak-shaving solutions to balance the grid and ensure that the transition to “Green” does not compromise “Reliable”.
This BESS project is far more than a commercial win, it is the first concrete step in our vision to provide that equilibrium. While PM Green is taking its foundational steps today, it carries the decades of “Execution Power” and the ‘vast engineering legacy’ of Power Mech. Winning a project of this scale as our debut in energy storage solutions is a powerful testimony to our capabilities to handle large and complex projects.” Mr. Sajja Kishore Babu, Chairman and Managing Director, Power Mech Projects Ltd, said in a press release.
The shares of the company were trading at ₹2,410, on January 9, in the next session following the announcement.
