Prostarm Info Systems Limited has informed the Exchange regarding 'Letter of Award (LOA) from Bihar State Power Generation Company Limited'.

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AI summary

Prostarm Info Systems has received a final Letter of Award from Bihar State Power Generation Company Limited (BSPGCL) on August 7, 2025, for setting up a 30MW/120MWh standalone Battery Energy Storage System (BESS) at various GSS locations in Bihar. The project is awarded under the Tariff-Based Competitive Bidding (TBCB) mode with Viability Gap Funding (VGF) support on a BOOT (Build-Own-Operate-Transfer) model for 12 years. The rental rate is Rs. 4.44 lakhs per MW per month, translating to a yearly rental of about Rs. 15.98 crores, making the total contract value roughly Rs. 192 crores over the 12-year period. This is a follow-up to the company's earlier announcement on June 16, 2025.

Likely market impact

This is a meaningful new order for Prostarm from a state government-owned entity, providing long-term recurring revenue for 12 years. The visibility from a government PSU counterparty and VGF support reduces project risk and is likely to be viewed positively by the market.