Gensol Secures Major Battery Storage Project Expansion

21 Jun 2024 CW Team

Gensol Engineering announced on Wednesday that it has been awarded an additional 250 MW/500 MWh Battery Energy Storage System (BESS) project by Gujarat Urja Vikas Nigam Limited (GUVNL). This latest contract expands Gensol?s total order book in the BESS segment to an impressive Rs 3,100 crore.

Previously, GUVNL had awarded Gensol a project of similar capacity. With the new allocation, Gensol will now be handling a comprehensive 500 MW/1,000 MWh BESS project. According to the company?s exchange filing, this expansion allows the project to deliver 500 MW of battery energy, capable of providing power backup for more than an hour, thus generating a total output of 1,000 MW.

The combined efforts from the initial and subsequent project phases are expected to yield a total revenue of Rs 2,685 crore over a 12-year Battery Energy Storage Purchase Agreement (BESPA) period. This system will supply electricity on an "On-Demand" basis to Gujarat's state distribution companies (Discoms) during both peak and off-peak hours. This initiative aims to extend the availability of renewable energy beyond solar production hours, thereby fulfilling Energy Storage Purchase Obligations and enhancing grid resilience.

Gensol?s strategic move underscores its commitment to advancing renewable energy solutions and supporting grid stability, a critical step towards sustainable energy management in Gujarat and beyond.

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