WBSEDCL cancels LoA awarded to PM Green Pvt Ltd

West Bengal State Electricity Distribution Company Limited (WBSEDCL) has annulled the tender process for 250 MW/ 1000 MWh Standalone Battery Energy Storage System at Goaltore and, accordingly, rescinded the Letter of Award (LoA) dated January 08, 2026, previously issued to PM Green Private Limited, a wholly owned subsidiary of the Company.

The annulment has been attributed to administrative and procedural exigencies arising from circumstances beyond the control of either party. It is further clarified that the said decision is not on account of any default or non-compliance on the part of the bidder.

Consequent to the above, the Bid Security and Performance Bank Guarantee submitted by the subsidiary have been released in full, without any deductions or forfeitures.

In view of the above, the order book value of the Company will be reduced by Rs. 1,563 crores.

Shares of Power Mech Projects Limited was last trading in BSE at Rs. 1917.95 as compared to the previous close of Rs. 1880.15. The total number of shares traded during the day was 6263 in over 708 trades.

The stock hit an intraday high of Rs. 1974.00 and intraday low of 1894.00. The net turnover during the day was Rs. 12147491.00.

Source : Equity Bulls

Keywords

PowerMechProjects INE211R01019 PMGreen ContractCancelled LoA WBSEDCL