Gensol Engineering Secures Another BESS Project from GUVNL
On Wednesday, Gensol Engineering announced a significant milestone: securing a 500 MW/250 MW Battery Energy Storage System (BESS) project from Gujarat Urja Vikas Nigam Limited (GUVNL). This new project increases the company’s order book in this category to an impressive Rs 3,100 crore. Notably, GUVNL had previously granted Gensol a BESS project of comparable capacity.
The recent allocation includes a greenshoe option of 250 MW/500 MWh, boosting the project to 500 MW/1000 MWh BESS capacity. According to Gensol Engineering’s exchange filing, the 500 MW of battery energy can sustain power for over an hour, resulting in a total output of 1,000 MW.
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For the duration of the 12-year Battery Energy Storage Purchase Agreement (BESPA), the project, which encompasses both the first and second tranches, is expected to generate Rs 2,685 crore in revenue. This initiative will meet Energy Storage Purchase Obligations, enhance grid resilience, and extend renewable energy availability beyond solar hours by delivering electricity to Gujarat state’s discoms on a “On-Demand” basis during peak and off-peak hours.
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Upon the commissioning of two Gujarat Energy Transmission Corporation (GETCO) substations, the project will deliver 500 MW/1000 MWh of energy, enabling two charge/discharge cycles per day.
Gensol Engineering, a leader in the renewable energy sector, specializes in electric mobility solutions and solar power engineering, procurement, and construction (EPC) services. This recent achievement underscores the company’s pivotal role in advancing energy storage solutions and enhancing the stability and availability of renewable energy in India.
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Additionally, in March 2024, Gensol Engineering secured a Rs 450 crore BESS project from GUVNL, emerging as the lowest bidder for a 70 MW/140 MWh component of a larger 250 MW/500 MWh standalone BESS project. This project, developed under a Tariff-Based Global Competitive Bidding model, positions Gensol at the forefront of energy storage solutions, highlighting its capability in the rapidly evolving sector.
