Bondada Engineering Limited has taken a major step forward in India’s fast-growing energy storage space after receiving a Letter of Award (LOA) from AP TRANSCO (Transmission Corporation of Andhra Pradesh Limited) for a large-scale Standalone Battery Energy Storage System (BESS) project. The order marks a strategically important milestone for the company, strengthening its long-term revenue visibility and reinforcing its position in India’s grid-scale energy transition.
Under the awarded mandate, Bondada Engineering will act as a Battery Energy Storage Developer on a Build-Own-Operate (BOO) basis for setting up a 225 MW / 450 MWh standalone BESS project in Andhra Pradesh. The total contract value stands at approximately ₹627 crore, making it one of the company’s most significant energy storage wins to date.
This project is particularly important because it creates a long-term annuity-based revenue stream for Bondada Engineering. Unlike conventional EPC-only orders, the BOO model offers predictable cash flows and stable returns over the project lifecycle, enhancing earnings visibility and return predictability for shareholders.
With this latest LOA, Bondada Engineering’s cumulative BESS portfolio has expanded to nearly 1 GWh. This scale positions the company as a credible and competitive player in India’s rapidly evolving energy storage ecosystem, at a time when utilities are increasingly focusing on storage-led infrastructure to support renewable energy integration and grid stability.
The project is expected to be executed within 18 months from the receipt of the LOA. Post the construction phase, it is anticipated to contribute meaningfully to the company’s revenues while generating steady, long-term annuity income. Importantly, the order has been awarded by a domestic entity, does not involve any related-party transactions, and the promoter or promoter group has no interest in AP TRANSCO, ensuring strong governance transparency.
