Deals8 Jan 2026, 01:12 pm
Promax Power Receives LOA for 6 MW Solar Power Project from HESCOM
AI Summary
Promax Power Limited has received a Letter of Award (LOA) dated 07 January 2026 from Hubli Electricity Supply Company Limited (HESCOM), a Government of Karnataka undertaking, for setting up a 6.0 MW (AC) grid-connected solar power project under the Build, Own and Operate (BOO) / RESCO model. The project has a contract period of 25 years from Commercial Operation Date with a consideration of approximately 70-75 crore, subject to actual generation. This award also marks Promax Power Limited’s entry into the power generation segment, strengthening its renewable energy portfolio and focus on recurring revenue streams.
Key Highlights
- Promax Power Limited received a Letter of Award (LOA) from Hubli Electricity Supply Company Limited (HESCOM) for a 6.0 MW (AC) grid-connected solar power project under the Build, Own and Operate (BOO) / RESCO model.
- The project has a contract period of 25 years from Commercial Operation Date with a consideration of approximately 70-75 crore, subject to actual generation.
- This award marks Promax Power Limited’s entry into the power generation segment.
- The project will strengthen Promax Power Limited’s renewable energy portfolio.
- The focus of Promax Power Limited is on recurring revenue streams.