Gensol Engineering emerged as a successful bidder for the 250 MW/500 MWh standalone Battery Energy Storage Systems (BESS) project worth Rs 1340 from Gujarat Urja Vikas Nigam Limited (GUVNL).

The company highlighted that this project would 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.

According to the company, the project will deliver 250 MW/500 MWh of energy for two charge/discharge cycles per day.

There is a greenshoe option of awarding a second tranche of 250 MW/500 MWh at the discretion of GUVNL under the same terms and conditions; in the event of the exercise of the greenshoe option, the project could reach 500 MW/1000 MWh, potentially generating a total revenue of approximately Rs 2680 crore over the 12-year Battery Energy Storage Purchase Agreement (BESPA) tenure.

Being one of the first major projects of standalone BESS in the country, the potential for BESS is set to experience substantial growth, fueled by robust policy backing from the government.