Power Mech Projects Ltd on Thursday announced that its wholly owned subsidiary, PM Green Private Ltd, has secured a significant order from West Bengal State Electricity Distribution Company Ltd (WBSEDCL) for the development of large-scale battery energy storage infrastructure in West Bengal.
The order involves setting up a 250 MW / 1,000 MWh standalone Battery Energy Storage System (BESS) at Goaltore in Paschim Medinipur. The project has been awarded under the Build-Own-Operate (BOO) model and comes with a 100% off-take guarantee from WBSEDCL, ensuring assured revenue visibility over the project life.
Greenshoe Option Expands Project Scope
In addition to the main project, the order includes a greenshoe option for another 250 MW / 1,000 MWh BESS to be developed at the Durgapur Project Ltd (DPL) campus in Durgapur, West Bengal. Including this option, the total order value stands at ₹3,126 crore, excluding GST, making it one of the largest standalone battery storage deals awarded in the state.
Comprehensive Project Responsibilities
The scope of work for PM Green Private Ltd covers the entire project lifecycle, including design, financing, engineering, procurement, construction, operation, and maintenance of the battery energy storage facilities at both sites. The projects are scheduled to be commissioned within 18 months from the signing of the Battery Energy Storage Purchase Agreement (BESPA). This will be followed by a long-term operation and maintenance period of 180 months, underlining the company’s sustained engagement in the asset’s performance.
Regulatory and Transaction Clarity
Power Mech Projects clarified that the order has been awarded by a domestic entity, WBSEDCL, and does not qualify as a related party transaction. The company further confirmed that neither its promoters nor any group companies hold an interest in WBSEDCL, addressing regulatory and governance considerations.
Strong Financial Performance in Q2
The order win comes on the back of robust quarterly performance by Power Mech Projects. For the quarter ended September 2025, the company reported an 11.7% year-on-year increase in net profit to ₹74.92 crore, compared with ₹67.07 crore in the same period last year. Revenue rose 19.5% to ₹1,237.8 crore, while EBITDA increased 19% to ₹147.02 crore. Operating margins stood at 11.88%, marginally lower than the year-ago level of 11.94%.
Market Reaction
Despite the positive order announcement and strong financials, shares of Power Mech Projects Ltd ended the session 1.84% lower at ₹2,353 on the BSE, reflecting broader market movements rather than company-specific fundamentals.
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