Shares of HG Infra Engineering surged nearly 2% after the company was declared a qualified bidder by Gujarat Urja Vikas Nigam Ltd. (GUVNL) for a significant renewable energy project. The project involves setting up 250 MW/500 MWh standalone battery energy storage systems, forming part of a larger 500 MW/1000 MWh initiative under Tariff-Based Global Competitive Bidding (Phase-IV) with viability gap funding support.
Key Highlights:
- Awarding Authority: Gujarat Urja Vikas Nigam Ltd.
- Scope: Establishing 500 MW/1000 MWh standalone battery energy storage systems.
- Timeline: Completion within 18 months.
- Significance: Marks HG Infra’s strategic expansion into the renewable energy sector, enhancing its portfolio and growth prospects.
As of 9:20 am, HG Infra Engineering shares were trading 1.41% higher at Rs 1,349.95 on the NSE.
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