Gensol secures additional 250 MW/500 MWh in GUVNL’s battery storage project

In India, Gensol Engineering Ltd has secured the full 500 MW/1,000 MWh capacity of the standalone battery energy storage project from Gujarat Urja Vikas Nigam Ltd (GUNVL) with an additional allotment of 250 MW (500 MWh) under a greenshoe option.

In 2024, Gensol Engineering, an Indian solar power EPC services and electric mobility solutions provider forayed into BESS EPC with Gujarat Urja Vikas Nigam Ltd (GUVNL), a state electricity regulation board in the Indian state of Gujarat. Gensol Engineering has now been allotted 250 MW/500 MWh under the green shoe option in GUNVL’s standalone battery energy storage systems (BESS) project. Earlier this year, GUVNL awarded Gensol a similar capacity project. With this new agreement, Gensol has secured the full project capacity (including a greenshoe option) of 500 MW/1,000 MWh. The allotment also takes Gensol’s cumulative BESS order book to over INR 3,100 crore ($371.59 million).

The GUVNL project, including the first and second tranches, will generate total revenue of INR 2,685 crore over the 12-year battery energy storage purchase agreement (BESPA) tenure.

The project will supply electricity on an “on-demand” basis to Gujarat State’s distribution companies during peak and off-peak hours, thereby extending renewable energy availability beyond solar hours, fulfilling energy storage purchase obligations, and enhancing grid resilience. The project, once commissioned at two Gujarat Energy Transmission Corp. (GETCO) substations, will deliver 500 MW/1,000 MWh energy for two charge/discharge cycles per day.

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