Gensol Engineering Wins Rs 1,340-Crore Energy Storage Project Bid

Gensol Engineering Ltd. emerged as a successful bidder for a battery storage project from Gujarat Urja Vikas Nigam Ltd. for Rs 1,340 crore. The project will deliver 250 megawatt energy for two charge/discharge cycles per day.

The project will supply electricity on an 'on-demand' basis to the 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, a company statement said on Wednesday.

Gensol Engineering is involved in solar power engineering, procurement, and construction services, and electric mobility sector.

"Securing this project enables us to make a significant impact on the Indian energy market while solidifying our position as a leading industry player in the renewable energy landscape, propelling the future of BESS in India," the company's Managing Director Anmol Singh Jaggi said in the statement.

(With inputs from PTI)