24 Jul, 10:49 - Indian

SENSEX 80246.09 (-0.23)

Nifty 50 24438.95 (-0.16)

Nifty Bank 51458.15 (-0.62)

Nifty IT 40115.85 (0.18)

Nifty Midcap 100 56692.75 (0.72)

Nifty Next 50 71955.1 (0.45)

Nifty Pharma 20840.7 (0.41)

Nifty Smallcap 100 18628.75 (1.24)

24 Jul, 10:49 - Global

NIKKEI 225 39259.31 (-0.85)

HANG SENG 17362.04 (-0.61)

DOW JONES 40358.09 (-0.14)

S&P 5555.74 (-0.16)

Login/Signup

Hot Pursuit News

You are Here : Home > News > Hot Pursuit News >

(13 Jun 2024, 10:55)

Gensol Engg hits the roof on emerging as L-1 bidder for GUVNL's project

Gensol Engineering was locked in upper circuit of 5% at Rs 1,067.65 after it emerged as a successful bidder for the for 250 MW/500 MWh battery energy storage system (BESS) awarded by Gujarat Urja Vikas Nigam (GUVNL).

The project will supply electricity on an ‘on-demand’ basis to Gujarat State's DISCOMs during peak and off-peak hours, thereby extending renewable energy availability beyond solar hours, fulfilling energy storage purchase obligations, and enhancing grid resilience. The project will deliver 250 MW/500 MWh energy for two charge/discharge cycles per day.

There is a greenshoe option of awarding second tranche of 250 MW/500 MWh at the discretion of GUVNL at the same terms and conditions; in case of exercise of greenshoe option the project could reach 500 MW / 1000 MWh, potentially generating a total revenue of around Rs 2,680 crore over the 12-year battery energy storage purchase agreement (BESPA) tenure.

Anmol Singh Jaggi, managing director of Gensol Engineering said, “This landmark ...

More News
More Company News View Company Information