In Short:
Gensol Engineering Ltd won a project from Gujarat Urja Vikas Nigam Limited worth ₹1,340 crore for 250 MW/500 MWh Battery Energy Storage Systems. The project will supply electricity to Gujarat State’s DISCOMs during peak and off-peak hours. There is a potential for a second tranche of 250 MW/500 MWh, making it a 500 MW/1000 MWh project generating revenue of ₹2,680 crore over 12 years. Gensol aims to lead the growth of Battery Energy Storage Systems in India.
Gensol Engineering Ltd Bags Contract for 250 MW/500 MWh BESS Project
Exciting news alert! Gensol Engineering Ltd has hit the jackpot by winning a bid for a 250 MW/500 MWh standalone Battery Energy Storage Systems (BESS) project from Gujarat Urja Vikas Nigam Limited (GUVNL) valued at a whopping ₹1,340 crore.
Project Details
This project is no ordinary project. It will provide electricity on an “On-Demand” basis to Gujarat State’s DISCOMs during both peak and off-peak hours. This means extending renewable energy availability beyond solar hours, fulfilling Energy Storage Purchase Obligations, and enhancing grid resilience. The cherry on top? The project will deliver 250 MW/500 MWh energy for two charge/discharge cycles per day. And wait, there’s more! GUVNL has the option to award a second tranche of 250 MW/500 MWh which could potentially double the project’s capacity to 500 MW/1000 MWh, generating a revenue of approximately ₹2,680 Crore over a 12-year Battery Energy Storage Purchase Agreement (BESPA) tenure.
Words from the MD
Anmol Singh Jaggi, the Managing Director of Gensol Engineering Limited, is all smiles about this achievement. He expressed his optimism about BESS in India and Gensol’s pivotal role in its growth by saying, “It’s a proud moment for Gensol. This landmark for the GUVNL BESS project not only highlights Gensol’s expertise and reliability in the renewable energy sector but also sets a clear direction for our future endeavors. It aligns with Gensol’s commitment to supporting India’s energy transition goals through innovative and sustainable solutions.”
Gearing Up for Growth
Battery energy storage is the way of the future for renewable energy integration and managing grid uncertainties. With this project, Gensol is set to provide cutting-edge energy storage solutions along with advanced energy management systems to meet the increasing global demand. As one of the pioneering projects in standalone BESS in the country, the future looks bright for BESS, thanks to strong government policies backing its growth.
