Promax Power has received a Letter of Award (LoA) from Hubli Electricity Supply Company (HESCOM), a Government of Karnataka undertaking, for setting up a 6.0 MW (AC) grid-connected solar power project under the Build, Own and Operate (BOO) / RESCO model. The 25-year contract offers a tariff of Rs 2.97 per unit (inclusive of taxes). On an interim basis, the total consideration is Rs 70-75 crore over the contract period, subject to actual generation.
Promax Power is engaged in the business of engineering procurement construction for electrification, civil infrastructure, and water infrastructure management projects.
