Bluspring subsidiary wins Rs 2,049.8 crore BALCO O&M contract
Bluspring Enterprises Limited has announced that its wholly owned step-down subsidiary, STEAG Energy Services (India) Private Limited, has secured an operations and maintenance (O&M) contract from Bharat Aluminium Company Limited (BALCO) for a 1,740 MW power plant.
The contract covers comprehensive O&M services for BALCO’s power plant facility and will remain valid for 60 months from July 1, 2026. The estimated aggregate contract value, including additional services, is Rs 2,049.8 crore.
According to the company, the order is domestic in nature and does not involve related party transactions. It also stated that neither the promoter, promoter group, nor group companies of Bluspring Enterprises Limited have any interest in BALCO.
STEAG acquisition
In March 2026, Bluspring Enterprises acquired 100% of STEAG Energy as part of its expansion in the power sector O&M segment. The acquisition added nearly 7 GW of managed assets and close to 2,000 specialists to Bluspring’s portfolio.
Founded in 2001, STEAG India provides O&M services, engineering advisory, and digital solutions for conventional and renewable power plants across India, Botswana, and the Middle East. Its portfolio includes supercritical thermal plants and refinery utilities with a combined process steam supply capacity of 2,200 tonnes per hour. The company reported consolidated annual revenues of over Rs 600 crore and operates across the electricity value chain.
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