Power Mech Projects gains on securing Rs 159-cr solar orders from BSPGCL
Power Mech Projects rose 1.65% to Rs 3,209.95 after the company secured Rs 159 crore solar power orders from Bihar State Power Generation Company (BSPGCL) under the PM-KUSUM C2 scheme for setting up grid-connected distributed solar plants in Bihar.
The projects, awarded under the RESCO (Renewable Energy Service Company) model, aim to solarize agricultural and mixed-load feeders across various substations in Bihar.
These projects will have a total installed capacity of 13.66 MW (AC) and will generate revenue through a 25-year power purchase agreement (PPA) with Bihar distribution companies NBPDCL and SBPDCL. The execution is set to be completed within 12 months.
The contracts cover three main locations: Rajoun, with a capacity of 4.221 MW valued at Rs 48.29 crore; Sakahara, with 4.285 MW worth Rs 49.02 crore; and Sambhuganj, the largest, with 5.155 MW valued at Rs 61.78 crore. Each project will receive a central government subsidy of Rs 1.05 crore per MW, plus an additional Rs 0.45 crore per MW from the Bihar government.
The scope of work includes the design, supply, installation, testing, commissioning, and long-term operation and maintenance of the solar power plants, along with related transmission infrastructure.
Hyderabad-based Power Mech Projects is one of the leading infrastructure construction companies.
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