Shares of Prostarm Info Systems Ltd. gained 2.78% on Wednesday to trade at ₹214.70 after the company announced a landmark win in the renewable energy storage space. Prostarm has been declared the L-1 bidder by Karnataka Power Transmission Corporation Limited (KPTCL) for setting up a 150 MW/300 MWh standalone Battery Energy Storage System (BESS) at the 400kV Doni Substation in Gadag District, Karnataka.
The project will be implemented under the Tariff Based Competitive Bidding (TBCB) framework and will be executed on a Build-Own-Operate (BOO) basis for a period of 12 years. Under the agreement, Prostarm will receive a rental of ₹2.54 lakh per MW per month, translating into an annual rental income of ₹45.72 crore for the entire project. To further support the execution, the project includes Viability Gap Funding (VGF) of ₹27 lakh per MWh or 30% of the capital cost, whichever is lower.
This development marks a significant milestone for Prostarm Info Systems as it strengthens its presence in India’s fast-growing energy storage and renewable integration sector. The fully domestic project involves no related-party transactions or promoter-linked interests, underscoring transparency in its execution.
By securing this high-value order, Prostarm Info Systems is set to play a critical role in supporting Karnataka’s renewable energy infrastructure. The state has been at the forefront of adopting energy storage technologies to stabilize grid operations and manage renewable variability.
Investors responded positively to the announcement, pushing the stock higher in an otherwise cautious market. Analysts believe that with strong revenue visibility from this long-term BOO contract, Prostarm is poised to emerge as a key player in India’s battery energy storage ecosystem, which is expected to see rapid expansion in the coming years.
