Power Mech Secures ₹865 Cr. Order for Operation and Maintenance of Thermal Power Plant

Key Takeaways from the Award Win

• Powermech has been awarded a ₹865 crore contract for the operation and maintenance (O&M) of a 3X660 MW supercritical thermal power plant.
• The project was awarded by Talwandi Sabo Power Limited, a subsidiary of Vedanta Limited.
• The contract, valued at ₹865 crore, will span over five years, starting from November 1, 2024.

Power Mech, a prominent player in the power sector, has secured a substantial order worth ₹865 crores. The contract involves the Operation and Maintenance (O&M) of a 3X660 MW supercritical thermal power plant located at Banawala village, Mansa District, Punjab. The project was awarded by Talwandi Sabo Power Limited, a subsidiary of Vedanta Limited.

The agreement is to be executed over the next five years starting from November 1, 2024, as per a stock exchange filing. As a domestic entity, Talwandi Sabo Power Limited has entrusted Power Mech with this critical role, reflecting the company’s reputation for excellence in the Indian power industry.

About Power Mech Projects Limited

Founded in 1999, Power Mech Projects Limited is an engineering and construction firm offering comprehensive services in the erection, testing, and commissioning (ETC) of boilers, turbines, generators, and balance of plant (BOP). The company also handles civil works and operations and maintenance (O&M). Power Mech is involved in executing ultra-mega power projects as well as supercritical and subcritical thermal power projects.

About Vedanta Limited

Vedanta Ltd. is a diversified natural resources conglomerate involved in the exploration, extraction, and processing of minerals and oil & gas. The company is engaged in the production and sale of zinc, lead, silver, copper, aluminium, iron ore, and oil & gas, with operations spanning across India, South Africa, Namibia, Ireland, Liberia, and the UAE. Additionally, Vedanta operates in commercial power generation, steel manufacturing, and port operations in India, while also manufacturing glass substrates in South Korea and Taiwan.

Key Takeaways from L&T Technology Services’ Achievement: 

• L&T Technology Services (LTTS) is positioned as a leader in the Everest Group's Connected Product Engineering Services PEAK Matrix Assessment 2024.
• The recognition points to LTTS's commitment toward excellence and innovations in embedded engineering, especially across Mobility, Tech, and Sustainability.
• The assessment graded the providers based on the leadership in digital engineering, client feed-back, and the potential to deliver impactful and transformative solutions where LTTS ranked high among such strong performers.

This recognition comes as a testament to the commitment of excellence and innovation in embedded engineering, predominantly in areas like Mobility, Tech, and Sustainability at LTTS.

The assessment ranked the engineering service providers based on levels of digital engineering leadership and client feedback coupled with capacity to deliver impactful and transformational solutions.

LTTS emerged as a strong high performer in this ranking further giving the company credence towards its capabilities and the kind of contribution it has been making in connected product engineering.

Nishant Udupa, Practice Director, Everest Group commented that L&T Technology Services has strengthened its capabilities via investments in IPs, labs, CoEs, and partnerships with hyperscalers and technology vendors. LTTS solutions in medical technology and connected home particularly stand out, owing to continuous investments in AI/ML, IoT and edge intelligence. 

About L&T Technology Services Limited:

L&T Technology Services Limited is a public traded subsidiary of Larsen & Toubro Limited. The company concentrates on ER&D services, through consulting, design, development, and testing services throughout the entire lifecycle of product and process development. It serves 69 Fortune 500 companies and 57 of the world's leading ER&D firms in segments like industrial products, medical devices, transportation, telecom, and process industries. LTTS is headquartered in India, with over 23,550 employees. It runs its business in the form of 22 design centres around the world, 30 sales offices, and 108 innovation labs as of June 30, 2024.

About Everest Group:

Everest Group is a research firm that helps business leaders make the right decisions. With customised problem solving, it assists clients to overcome the challenges of markets and improve the effectiveness of their strategies whilst building both operational and financial performance. Focused on technology, business processes, and engineering, Everest Group offers practical advice on talent, sustainability, and sourcing. 

Key Takeaways from the Joint Venture of NGEL and Mahapreit

• NTPC Green Energy Ltd. and MAHAPREIT have partnered to develop 10 GW of renewable energy projects.
• The Joint Venture Agreement was signed in Mumbai on September 25, 2024.
• The project will focus on developing renewable energy parks in Maharashtra and other states in India.

As per a stock exchange filing, the agreement was signed on September 25, 2024, by Shri Rajiv Gupta, CEO of NGEL, and Shri Bipin Shrimali, MD of MAHAPREIT, in Mumbai to develop 10 GW of renewable energy projects.

The JV will focus on the development of Renewable Energy Parks and Projects across Maharashtra and potentially other states in India. This partnership is a significant step toward expanding India's renewable energy capacity.

About NTPC Limited 

NTPC Ltd., along with its subsidiaries, associates, and joint ventures, primarily focuses on generating and selling bulk power to state utilities. The group is also engaged in various other sectors, including consultancy, project management and supervision, energy trading, oil and gas exploration, and coal mining.

About NTPC Green Energy Limited

NTPC Green Energy Limited (NGEL), a subsidiary of the Indian state-owned power generation company NTPC Limited, was established in 2022. Its primary focus is on developing and operating renewable energy projects, primarily in the solar and wind power sectors.

NGEL's mission is to contribute to India's clean energy transition by generating renewable electricity and reducing carbon emissions. The company aims to expand its renewable energy portfolio through a combination of new project developments and strategic acquisitions.

Currently, NGEL has several renewable energy projects under development and operation across India. These projects involve the construction and management of solar and wind power plants, which generate electricity and contribute to the country's renewable energy capacity.

Key takeaways from the Order Win

• Avantel received a purchase order worth Rs. 3.45 crore from Bharat Electronics Limited.
• The order is for the supply of Satcom equipment and is to be manufactured domestically.
• The contract is expected to be executed by July 2025.

As per a stock exchange filing, the order involves the supply of Satcom equipment, which will be manufactured domestically. The contract has been awarded by a domestic entity, Bharat Electronics Limited, and the order is expected to be completed by July 2025. The total size of the order stands at Rs. 3.45 crore.

About Avantel Limited

Avantel Limited specialises in designing, developing, and maintaining wireless and satellite communication products, defence electronics, radar systems, and network management software applications, primarily serving clients in the aerospace and defence sectors.

About Bharat Electronics Limited

Founded in 1954, Bharat Electronics Ltd. specialises in manufacturing and supplying electronic equipment and systems for the defence sector, with a smaller presence in the civilian market.