WBSEDCL Annulled Tender Process for 250 MW Standalone Battery Energy Storage System at Goaltore: Rs. 1,563 Crores Order Book Value Reduction for Power Mech Projects Ltd

West Bengal State Electricity Distribution Company Limited (WBSEDCL) has annulled the tender process for 250 MW/ 1000 MWh Standalone Battery Energy Storage System at Goaltore and rescinded the Letter of Award (LoA) previously issued to PM Green Private Limited, a wholly owned subsidiary of Power Mech Projects Ltd. The annulment has been attributed to administrative and procedural exigencies arising from circumstances beyond the control of either party, and it is further clarified that the decision is not on account of any default or non-compliance on the part of the bidder. Consequent to the annulment, the Bid Security and Performance Bank Guarantee submitted by the subsidiary have been released in full, without any deductions or forfeitures. The order book value of Power Mech Projects Ltd will be reduced by Rs. 1,563 crores.