Gensol Engineering Ltd. gets GUVNL’s 250 MW (500 MWh) Battery Energy Storage Project

Ahmedabad: Gensol Engineering Ltd. working in solar power engineering, procurement, and construction (EPC) services and electric mobility sector, has emerged as a successful bidder for 250 MW/500 MWh standalone Battery Energy Storage Systems (BESS) project from Gujarat Urja Vikas Nigam Limited (GUVNL).

The project will supply electricity on an “On-Demand” basis to Gujarat State’s DISCOMs during peak and off-peak hours, thereby extending renewable energy availability beyond solar hours, fulfilling Energy Storage Purchase Obligations, and enhancing grid resilience. The project will deliver 250 MW/500 MWh energy for two charge/discharge cycles per day. There is a greenshoe option of awarding second tranche of 250 MW/500 MWh at the discretion of GUVNL at the same terms and conditions; in case of exercise of greenshoe option the project could reach 500 MW / 1000 MWh, potentially generating a total revenue of approximately INR 2680 Crore over the 12-year Battery Energy Storage Purchase Agreement (BESPA) tenure.

Expressing his optimism about the future of BESS in India and Gensol’s pivotal role in propelling the growth of this sector, Anmol Singh Jaggi, Managing Director, Gensol Engineering Limited said, “It’s a proud moment for Gensol. This landmark for 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. The BESS market in India is poised for exponential growth, and Gensol is at the forefront, ready to lead this transformation. Securing this project enables us to make a significant impact on the Indian energy market while solidifying our position as a leading industry player in the renewable energy landscape, propelling the future of BESS in India.” DeshGujarat