Prostarm Info Systems (NSE:PROSTARM, BOM:544410) has received a final letter of award from Bihar State Power Generation Company to set up a 30MW/120 MWh standalone battery energy storage system (BESS), according to a Friday filing to the Indian stock exchanges.
The storage unit will be set up at a rental of 444,000 rupees per MW per month, amounting to an annual rental of 159.8 million rupees on 30MW/120 MWh under the tariff-based competitive bidding (TBCB) mode for 12 years.
The different BESSs will be set up at various locations of Bihar State Power in Bihar with viability gap funding support.
The company's shares were down over 2% in recent trade.
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