Prostarm Info Systems Limited has informed the Exchange about Awarding of order(s)/contract(s)
PROSTARM · price
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Prostarm Info Systems has received a Letter of Intent from Bihar State Power Generation Company Limited (BSPTCL) to set up a 30MW/120 MWh standalone Battery Energy Storage System (BESS) in Bihar. The project will be executed under a Build, Own, Operate & Transfer (BOOT) model for 12 years, with a monthly rental of Rs. 4.44 lakhs per MW, translating to an annual rental of about Rs. 15.98 crores. The total contract value over 12 years is approximately Rs. 191.76 crores, with Viability Gap Funding (VGF) support from the government. The project is awarded through Tariff Based Competitive Bidding (TBCB) and must be commissioned within 18 months from the effective date of the Battery Energy Storage Purchase Agreement.
This is a significant order win for Prostarm from a state-owned power entity, providing long-term recurring revenue visibility over 12 years. The government-backed BESS project with VGF support reduces execution risk and is likely to be viewed positively by the market, though the stock may already reflect the news since this disclosure follows the order date.