Gensol Engineering Wins Rs 1,340-Crore Energy Storage Project Bid
The project will supply electricity on an 'on-demand' basis to the Gujarat state's distribution companies during peak and off-peak hours.
![<div class="paragraphs"><p>The 160-MWground-mounted solar project site at Bhavnagar, Gujarat. (Source: Press release from Gensol Engineering Ltd.)</p></div>](https://media.assettype.com/bloombergquint%2F2024-03%2F2c5092e9-41f1-4ce9-b809-09e0a869a3dc%2FScreenshot_2024_03_18_114911.png?auto=format%2Ccompress&w=200)
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)