Power Mech Projects Ltd announced that it has received solar power contracts worth about ₹159 Crore from Bihar State Power Generation Company Limited (BSPGCL). The order is for setting-up grid-connected distributed solar power plants. The order is received under the PM-KUSUM Scheme.
The project is awarded under the RESCO (Renewable Energy Service Company) model. This project is directed at solarising agricultural land mixed-load feeders through various substations in Bihar.
As per the company, these projects will generate revenue through a 25-year power purchase agreement (PPA) with Bihar discoms NBPDCL and SBPDCL. The company expects to complete the execution within 12 months. The project has a cumulative capacity of 13.66 MW (AC).
The contract is spread across three individual locations Rajoun (4.221 MW valued at ₹48.29 Crore), Sakahara (4.285 MW having a ₹49.02 Crore value), and Sambhuganj (5.155 MW and is valued at ₹61.78 Crore).
The company said that each project will get subsidies of ₹1.05 Crore per MW from the central government and ₹0.45 Crore per MW from the Bihar government.
The company said that scope of work includes supply, design, installation, testing, commissioning, and long-term maintenance and operation of the solar plants.
For feedback and suggestions, write to us at editorial@iifl.com
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248, DP SEBI Reg. No. IN-DP-185-2016
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.