Power Mech Projects Limited Sees Order Book Reduction Following Tender Annulment
Power Mech Projects Limited announced on March 25, 2026, that West Bengal State Electricity Distribution Company Limited (WBSEDCL) has annulled a tender process and rescinded a Letter of Award (LoA) previously issued to its wholly owned subsidiary, PM Green Private Limited. The LoA, initially issued on January 08, 2026, pertained to a 250 MW/ 1000 MWh Standalone Battery Energy Storage System project in Goaltore.The annulment was attributed to administrative and procedural challenges beyond the control of either party, and it was clarified that the decision was not due to any default or non-compliance by the bidder. The Bid Security and Performance Bank Guarantee submitted by the subsidiary have been released in full.
As a result of the tender annulment, Power Mech Projects Limited's order book value will be reduced by Rs. 1,563 crores.
Source:
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.