SPML Infra has secured a landmark ₹1,128 crore contract from the National Thermal Power Corporation (NTPC) to develop a 1 GWh Battery Energy Storage System (BESS) at NTPC's Barauni Thermal Power Station in Bihar. This marks the first large-scale grid Battery Energy Storage System project for SPML Infra and ranks among the largest single BESS orders awarded in India, underscoring a significant milestone in the country's clean energy journey.

Order Details

The key highlights of this contract are summarised below:

Scope of Work

The project encompasses the supply, civil works, and erection of a 250 MW/1,000 MWh Battery Energy Storage System comprising 5 MWh DC containers with Battery Management System (BMS) and Thermal Management System (TMS), 33 kV panel boards, 220 kV DC & AC cables, 220 kV switchyard, and all associated accessories. The project will be executed over an 18-month period, followed by 15 years of operation and maintenance. The BESS will seamlessly integrate large-scale battery storage with existing thermal power infrastructure, enabling peak load management, grid stability, and efficient integration of renewable power.

Strategic Significance

This order anchors SPML Infra's broader strategic push into energy storage infrastructure. The company is advancing its commitment to developing battery energy storage solutions in partnership with its technology provider, Energy Vault (NYSE: NRGV), purpose-built for India's scale and ambition. As India's power networks evolve, Battery Energy Storage Systems are increasingly becoming central to a stable, responsive, and future-ready electricity grid.

Commenting on the development, Abhinandan Sethi, Managing Director, SPML Infra Limited, said:

"This order marks a defining moment for SPML Infra, a firm commitment to the large-scale battery energy storage sector. Energy storage will define how India powers its future, and we intend to be architects of that transformation. Partnering with NTPC on this landmark project is both a privilege and a responsibility we embrace fully. We are here to build the grid India needs — flexible, stable, and built for scale."

About SPML Infra

SPML Infra Limited is a distinguished infrastructure development company with over four decades of expertise across power, water, environment, and technology sectors. With a pan-India presence, SPML has successfully executed over 700 projects, including drinking water facilities, wastewater treatment, integrated sewerage networks, power transmission and distribution, substations, rural electrification, and smart city solutions. The company has contributed to providing clean drinking water to over 50 million people across urban and rural areas. SPML Infra is ranked 14th among the World's Top 50 Private Water Companies as per Global Water Intelligence (GWI), London, and is recognised as one of India's 10 Best Infrastructure Companies.

SPML Infra Limited has successfully concluded its postal ballot process, with shareholders approving both resolutions put to vote via remote e-voting. The voting period closed on Sunday, 03 May 2026 at 5:00 PM IST, and scrutinizer Mr. Tumul Maheshwari of MT & Co., Company Secretaries, submitted his consolidated report to the company on 04 May 2026. The results were disclosed to the stock exchanges on 05 May 2026 by Company Secretary Swati Agarwal, in compliance with Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Postal Ballot Process Overview

The postal ballot notice was dated 01 April 2026, and the remote e-voting facility was open from Saturday, 04 April 2026 at 09:00 AM IST through Sunday, 03 May 2026 at 05:00 PM IST. The cut-off date for determining eligible shareholders was Tuesday, 31 March 2026. Out of a total of 23,502 shareholders as on the cut-off date, notices were dispatched electronically to 22,369 shareholders whose email IDs were registered with the company, RTA, or depository. The dispatch was completed on 02 April 2026. National Securities Depository Limited (NSDL) served as the e-voting service provider, while M/s. Maheshwari Datamatics Private Limited acted as the Registrar and Share Transfer Agent (RTA).

Key parameters of the postal ballot are summarised below:

Resolution 1: Related Party Transactions with JWIL Infra Limited (Ordinary Resolution)

The first resolution sought shareholder approval for material related party transactions with JWIL Infra Limited. The promoter and promoter group, holding 31,165,957 shares, did not cast votes under this resolution. The resolution was classified as an ordinary resolution, with the promoter/promoter group noted as interested parties.

Of the votes polled, 86 members voted in favour with 4,220,864 votes (99.88%), while 37 members voted against with 5,245 votes (0.12%). No invalid votes were recorded. Notably, votes cast by three (3) shareholders aggregating to 40,66,573 equity shares were not considered and were treated as invalid for the purpose of the postal ballot results.

Resolution 2: Remuneration to Nominee Director (Special Resolution)

The second resolution sought approval for payment of remuneration to Mr. Tharuvai Venugopal Rangaswami (DIN: 01957380), Nominee Director, in addition to sitting fees. This was classified as a special resolution, with the promoter/promoter group also noted as interested parties.

A total of 94 members voted in favour with 26,152,777 votes (100%), while 36 members voted against with 421 votes (negligible percentage). No invalid votes were recorded under this resolution.

Compliance and Disclosure

The scrutinizer confirmed that all relevant records pertaining to the e-voting conducted for the postal ballot were handed over to the Chairman of the Company for safe-keeping. The results, along with the scrutinizer's report, are to be hosted on the company's website at www.spml.co.in and on the NSDL website at www.evoting.nsdl.com . The report was issued under UDIN No. A016464H000266659, dated 04 May 2026, from Delhi, by Payal Maheshwari, Proprietor, MT & Co., C.P. No. 5554. Both resolutions have been passed with the requisite majority as required under the Companies Act, 2013 and applicable SEBI regulations.