Published On:June 14 2024
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Gensol Engineering Wins ₹1,340 Crore BESS Project from Gujarat Urja Vikas Nigam

Gensol Engineering Ltd has secured the bid for a significant 250 MW/500 MWh standalone Battery Energy Storage Systems (BESS) project from Gujarat Urja Vikas Nigam Limited (GUVNL) valued at ₹1,340 crore.

The project aims to provide electricity on-demand to Gujarat's DISCOMs during peak and off-peak hours, enhancing renewable energy availability beyond solar hours and bolstering grid resilience. It involves delivering 250 MW/500 MWh energy through two charge/discharge cycles daily. Additionally, there is a provision for a second tranche of 250 MW/500 MWh under a greenshoe option, potentially expanding the project to 500 MW/1000 MWh, with an expected total revenue of ₹2,680 crore over the 12-year Battery Energy Storage Purchase Agreement (BESPA) tenure, as per an official statement.

Anmol Singh Jaggi, Managing Director of Gensol Engineering, expressed confidence in the future of BESS in India and Gensol's pivotal role in its growth. He remarked on the project's significance, highlighting Gensol's expertise in renewable energy and commitment to advancing India's energy transition goals through innovative and sustainable solutions.

The deployment of battery energy storage is crucial globally for integrating renewable energy and managing grid uncertainties. Gensol will implement cutting-edge energy storage solutions and advanced management systems for this project, ensuring compliance with stringent availability and efficiency standards. This initiative underscores Gensol's capability to deliver reliable and energy-efficient storage solutions amidst rising global demand.

This project marks a significant milestone in India's BESS sector and is poised to capitalize on the sector's potential growth, supported by robust governmental policies.

HBL





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