Prostarm Ltd. has announced that it has received a Letter of Award (LOA) from Karnataka Power Transmission Corporation Limited (KPTCL) for a landmark project to set up a 150 MW/300 MWh standalone Battery Energy Storage System (BESS) at the 400kV Doni Substation, operating at 220kV, in Gadag District, Karnataka. The project will be implemented under the Tariff-Based Competitive Bidding (TBCB) framework on a Build-Own-Operate (BOO) basis for a period of 12 years.
The agreement includes a rental of Rs. 2.54 lakh per MW per month, translating to an annual rental income of Rs. 45.72 crore for Prostarm for the 150 MW/300 MWh project. Additionally, the project will receive Viability Gap Funding (VGF) from the state, amounting to Rs. 27 lakh per MWh or 30% of the capital cost for the BESS, whichever is lower.
This domestic project underscores Prostarm’s growing expertise in advanced energy storage solutions and aligns with India’s push for reliable, sustainable, and renewable energy infrastructure. Notably, there are no related party interests in this contract, ensuring full compliance with SEBI regulations.
