Power Mech Projects has announced a significant reduction in its order book value by ₹1,563 crores following the annulment of a tender by the West Bengal State Electricity Distribution Company Limited (WBSEDCL). The tender was for a 250 MW/1000 MWh standalone battery energy storage system at Goaltore.
The tender process, initially awarded to PM Green Private Limited, a wholly owned subsidiary of Power Mech, was annulled due to administrative and procedural exigencies beyond the control of both parties. The decision to annul the tender was not due to any default or non-compliance by the bidder, as clarified by the company.
Following the annulment, the bid security and performance bank guarantee submitted by PM Green Private Limited have been released in full, with no deductions or forfeitures. This development marks a significant adjustment in Power Mech’s order book, impacting its projected financials.
The cancellation of the letter of award, initially issued on January 8, 2026, was communicated by Power Mech in a previous announcement. The company has requested that the information be taken on record and acknowledged by the relevant authorities.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).
This article is written by Kinjal and reviewed by Markets Desk before publication.