TCM Limited announced that company has received the following work order, DT. 11/04/2023 from Agency for New and Renewable Energy Research and Technology (ANERT), Department of Power, Government of Kerala. Name of the Entity awarding order(s)/contract(s) Agency for New and Renewable energy Research and Technology (ANERT, Department of Power, Government of India.

Significant terms and conditions of order(s)/contract(s) awarded in brief. A tripartite agreement has to be executed within 7 days of receipt of the work order for fulfillment of the contract along with a security deposit of INR 604,080 being 3% of contract value of INR 20,135,886. 100-200 kw work is to be completed within 40 days, 50-100 kw work is to been completed within 30 days and Below 50 kw work is to be complete within 25 days.

Upon delivery of major components at the respective sites, 60% of contract value will be released, on completion of installation and testing of the plant, 20% of contract value will be release as second part. On commissioning, 10% of remaining contract will be released. Final 10% will be retained as performance security and will be released upon completion of supply, installation and commissioning.