The projects, awarded under the RESCO (Renewable Energy Service Company) model, aim to solarise agricultural and mixed-load feeders across various substations in Bihar.
With a cumulative capacity of 13.66 MW (AC), the projects are expected to generate revenue through a 25-year power purchase agreement (PPA) with Bihar discoms NBPDCL and SBPDCL. Execution is scheduled within 12 months.
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The contracts include three specific locations: Rajoun (4.221 MW, ₹48.29 crore), Sakahara (4.285 MW, ₹49.02 crore), and Sambhuganj (5.155 MW, ₹61.78 crore). Each project will receive subsidies of ₹1.05 crore per MW from the central government and ₹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 plants along with associated transmission infrastructure.
Robust Q4
Power Mech Projects reported a strong set of numbers for the March quarter of FY25, with net profit rising 53.8% year-on-year to ₹129.8 crore, up from ₹84.4 crore a year earlier. The strong bottomline growth was supported by a sharp rise in topline as well as stable operating margins.
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Revenue for the quarter stood at ₹1,853.3 crore, registering a 42.4% jump compared to ₹1,301.5 crore in Q4FY24, reflecting strong execution momentum across key segments. The company also saw a healthy operating performance, with EBITDA rising 44.3% YoY to ₹215.7 crore from ₹149.5 crore in the year-ago period.
Shares of Power Mech Projects Ltd ended at ₹3,142.80, up by ₹44.50, or 1.44%, on the BSE.
(Edited by : Shoma Bhattacharjee)
