Prostarm Bags Landmark 150MW Battery Storage Project in Karnataka 🔋

Big news from Prostarm Info Systems Limited! The company has just announced a significant win, being declared the L-1 (lowest) bidder for a major energy project by the Karnataka Power Transmission Corporation Limited (KPTCL). This is a fantastic development that could power up Prostarm’s presence in the renewable energy sector.

So, what’s the buzz about? Prostarm is set to establish a 150 MW/300 MWh Standalone Battery Energy Storage System (BESS) at KPTCL’s 400kV Doni Substation in Gadag District, Karnataka. Think of it as a giant battery that helps stabilize the power grid, especially crucial for integrating intermittent renewable energy sources like solar and wind. ☀️🌬️

This isn’t just a one-off deal; it’s a long-term commitment. The project will operate on a ‘Build Own Operate’ (BOO) basis for a period of 12 years. This means Prostarm will be responsible for building the system, owning it, and then operating it for over a decade, ensuring a steady revenue stream.

Financially, the deal looks robust. The project comes with a yearly rental of Rs. 45.72 Crores (calculated at Rs. 2.54 lacs per MW per month for the 150 MW/300 MWh capacity). Plus, it’s part of a Tariff Based Competitive Bidding (TBCB) mode, which often ensures competitive and fair pricing. There’s also additional VGF (Viability Gap Funding) of Rs. 27 lacs per MWh or 30% of the capital cost for the BESS, whichever is lower, providing further financial support.

This win highlights Prostarm’s growing capabilities in the critical energy storage segment, a key component for India’s transition to a greener and more reliable power grid. It’s a strategic move that positions the company firmly in the future of energy infrastructure. Keep an eye on how this project unfolds! 🚀

source: Corporate Announcement

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