Advait Energy Transitions has received a Letter of Intent to set up 150MW/300MWh Standalone Battery Energy Storage Systems (BESS) in Gujarat, awarded by Gujarat Urja Vikas Nigam Limited (GUVNL). The project is part of a tariff-based competitive bidding process (Phase-VIII) and is supported by Viability Gap Funding through the PSDF, followed by an E-RA.
The contract, awarded by a domestic entity, specifies that the project must be completed within 18 months from the date of the Battery Energy Storage Purchase Agreement. The broad consideration for the contract is set at Rs 2,10,000 per MW per month, inclusive of taxes.
This development marks a significant step for Advait Energy Transitions in expanding its footprint in the renewable energy sector, particularly in battery storage solutions. The project aligns with the company’s strategic focus on sustainable energy solutions and positions it as a key player in the energy transition landscape.
The contract does not involve any related party transactions, and there is no interest from the promoter group in the entity awarding the contract.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).