Advait Energy Transitions Ltd has secured a Rs 516.2 million (mn) turnkey contract from Dakshin Gujarat Vij Company Ltd for the supply, installation, testing and commissioning of 11 kV 55 mm² AAAC medium voltage covered conductors and related works. The order, received on July six, covers conductors, accessories and additional poles where required and specifies that PSC and RSJ poles will be provided by Dakshin Gujarat Vij while accessories will be within Advait Energy's scope.

The project will be executed within Dakshin Gujarat Vij Company Ltd's jurisdiction under the Vanbandhu Kalyan Yojana-2 scheme or any other applicable scheme and the contract is valued at Rs 516.2 million (mn) including taxes. The company said the turnkey contract is scheduled for completion within 15 months and that the award does not fall under related party transactions.

Advait Energy's wholly owned subsidiary has executed a battery energy storage purchase agreement with Gujarat Urja Vikas Nigam Ltd for the development of a standalone battery energy storage system with an aggregate capacity of 150 megawatt (MW) and 300 megawatt hour. The subsidiary will develop, own and operate the BESS project, which will be located in the vicinity of the 220 kV Bhesan AIS substation of GETCO in Gujarat.

The BESS project was secured through a tariff based competitive bidding process and will be supported by viability gap funding through the Power System Development Fund as part of the framework under which the contract has been awarded by GUVNL. The company also stated that the order was awarded by a domestic entity and that neither the promoter nor promoter group companies have any interest in the awarding entity.

Shares of Advait Energy Transitions Ltd ended at Rs 2,148.00 on the BSE, down by Rs 34.80 or 1.59 per cent. The company indicated it will coordinate with Dakshin Gujarat Vij to execute the works within the stipulated timeline and to ensure timely provision of poles and accessories.