GUVNL Awards Gensol Engineering 500 MW Energy Storage Project
The energy storage system of 500 MW/1,000 MW means 500 MW of battery energy can provide power backup for more than an hour, giving a total output of 1,000 MW.
Gensol Engineering on Wednesday said it has bagged an additional 250 MW/500 MW Battery Energy Storage System Project from GUVNL, taking its order book to Rs 3,100 crore in the segment. Gujarat Urja Vikas Nigam Ltd. had earlier awarded the company a BESS project in a similar capacity. "It has been allotted the greenshoe option of 250 MW/500 MWh by GUVNL to reach the 500 MW/1000 MWh BESS project. This takes its total BESS order book to over Rs 3,100 crore," Gensol Engineering said in an exchange filing.
The energy storage system of 500 MW/1,000 MW means 500 MW of battery energy can provide power backup for more than an hour, giving a total output of 1,000 MW.
The project, including the first and second tranches, will generate a total revenue of Rs 2,685 crore over the 12-year Battery Energy Storage Purchase Agreement tenure, it added.
It will 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.
The project, once commissioned at two Gujarat Energy Transmission Corp. substations, will deliver 500 MW/1000 MWh energy for two charge/discharge cycles per day.
Gensol Engineering is a leading player in the renewable energy sector, specialising in solar power engineering, procurement and construction services, along with electric mobility solutions.
