On Wednesday, Gensol Engineering announced that it has secured an additional 250 MW/500 MWh Battery Energy Storage System (BESS) project from Gujarat Urja Vikas Nigam Limited (GUVNL). This new project increases Gensol’s order book in this segment to Rs 3,100 crore. Previously, GUVNL had awarded the company a similar BESS project.
Gensol Engineering received the “greenshoe option” from GUVNL, allowing them to expand the project to a total of 500 MW/1000 MWh BESS. This new order boosts their total BESS order book to over Rs 3,100 crore, according to a statement from Gensol.
A 500 MW/1000 MWh energy storage system can provide 500 MW of power backup for more than an hour, delivering a total of 1,000 MWh of energy.
The combined revenue from both parts of the project will amount to Rs 2,685 crore over a 12-year Battery Energy Storage Purchase Agreement (BESPA).
The project will supply electricity on demand to Gujarat’s state distribution companies during peak and off-peak hours, extending the availability of renewable energy beyond daylight hours, fulfilling energy storage requirements, and improving grid stability.
Once completed, the project at two Gujarat Energy Transmission Corporation (GETCO) substations will deliver 500 MW/1000 MWh of energy through two charge/discharge cycles each day. Gensol Engineering is a major player in the renewable energy sector, specializing in solar power engineering, procurement, and construction (EPC) services, as well as electric mobility solutions.
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