Core Announcement – Order Details

Awarding Entity: Solar Energy Corporation of India Limited (SECI) (A Government of India Enterprise)

Domestic/International Order: Domestic

Nature of Order/Contract:

Letter of Award for providing energy storage service from a Pumped Storage Plant (PSP) of 324MW / 2,592 MWH capacity. The service involves pumped storage services for grid energy storage.

Order Value:

Total Annual Fixed Charge for 324 MW Capacity: ₹351.3 crore

Materiality Context:

Not Specified

Execution Timeline:

The Company shall commence supply of storage capacity within 36 months of effective date of the Pumped Storage Purchase Agreement (PPA).

Revenue Recognition / Billing Structure:

Fixed annual charge structure with cycle loss compensation. The agreement is for 40 years from Scheduled Commencement of Supply Date.

Key Terms & Payment Milestones:

  • 40-year service term from Scheduled Commencement of Supply Date
  • Fixed annual charge structure
  • Cycle loss compensation included
  • SECI will sign Pumped Storage Purchase Agreement (PPA) with the Company subsequent to signing of Pumped Storage Sale Agreement with buying entities

Whether Related Party Transaction:

No

Promoter Group Involvement:

Not Applicable (explicitly stated)

Financial Implication:

Not Specified