Advait Energy bags 150MW/300MWh BESS project in Gujarat from GUVNL
Advait Energy Transitions Limited received a Letter of Intent from GUVNL for a 150MW/300MWh Standalone Battery Energy Storage Systems (BESS) project in Gujarat. The order value is ₹2,10,000/MW/Month, inclusive of taxes. Project execution is to be completed within 18 months from the agreement date.
Securing a large-scale project like this from a state utility is a significant achievement and is expected to have a substantial positive impact on the company's financial performance and market position.
The company has secured a new order, which is a positive development for its business growth and revenue prospects.
Advait Energy Transitions Limited has announced receiving a Letter of Intent (LOI) from Gujarat Urja Vikas Nigam Limited (GUVNL) for setting up projects of 150MW/300MWh Standalone Battery Energy Storage Systems (BESS) in Gujarat. This project is part of a Tariff-Based competitive bidding process under Phase-VIII, supported by Viability Gap Funding through PSDF and followed by E-RA.
The contract specifies a consideration of ₹2,10,000 per MW per month, inclusive of taxes. The execution of the project is slated to be completed within 18 months from the date of the Battery Energy Storage Purchase Agreement. This significant order from a domestic entity underscores the company's growing presence in the renewable energy storage sector.
What to do with a filing like this
Advait Energy Transitions Limited filed this with the NSE as a statutory disclosure, categorised under new orders. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Advait Energy Transitions Limited. Read the original for the full detail.