Prostarm Info Systems Ltd has received the letter of intent for setting up a battery energy storage system (BESS) in Bihar. The mandate was awarded under tariff-based competitive bidding.
In a stock exchange communication, Navi Mumbai-headquartered Prostarm Info Systems Ltd said that it has been awarded the letter of intent for setting up a BESS by Bihar State Power Generation Company Ltd (BSPGCL).
Accordingly, Prostarm will set up standalone BESS systems aggregating 30 MW/120 MWh at different grid substations of Bihar State Power Transmission Company Ltd (BSPTCL) in the eastern state.
The BESS systems will be developed under the build, own, operate & transfer (BOOT) model with a concession period of 12 years. The project will be eligible for viability gap funding.
Prostarm is expected to put up these BESS systems within 18 months from the date of signing of the battery energy storage purchase agreement (BESPA).
The tariff quoted by Prostarm was Rs.4.44 lakh per MW per month. This translates to an annual revenue stream of Rs.15.984 crore per MW, which amounts to around Rs.192 crore for the full capacity during the entire 12-year period.
Prostarm: A background
Headquartered in Navi Mumbai and with two manufacturing facilities in Maharashtra, Prostarm is engaged in designing, manufacturing, assembling, sale, service and supply of energy storage equipment and power conditioning equipment. The company’s manufactured power solution products comprise of UPS system, inverter system, lift inverter system, solar hybrid inverter systems, lithium battery packs, servo-controlled voltage stabilizers, isolation transformers and other power solution products. The company offers both customized and standard products and solutions, manufactured and assembled at our in-house facilities and also through third party contract manufacturers, according to the company’s official website.
BESS tender
According to reliable sources, BSPGCL earlier this year had invited bids to put up BESS systems aggregating 125 MW/500 MWh at different grid substation locations of BSPTCL. Bidders could bid for a minimum of 5 MW/20 MWh and a maximum of 125 MW/500 MWh. Successful developers were entitled to VGF of Rs.27 lakh per MW or 30 per cent of the capital cost, whichever was lower. Details on other potential winners are awaited.
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