Gensol Engineering wins bid for Rs 1,340 crore project

13 Jun 2024 , 11:12 AM

Gensol Engineering announced on Wednesday that it has been selected as a successful bidder for Gujarat Urja Vikas Nigam’s 250 MW (500 MWh) Battery Energy Storage Project, worth ₹1,340 Crore.

The project would offer electricity to Gujarat State’s DISCOMs on an ‘on-demand’ basis throughout peak and off-peak hours, expanding renewable energy availability beyond solar hours, meeting energy storage purchase requirements, and improving grid resilience, according to a company statement.

According to the statement, Gensol Engineering, a pioneer in solar power engineering, procurement, and construction (EPC) services and the electric mobility sector, was the successful bidder for Gujarat Urja Vikas Nigam Ltd’s 250 MW/500 MWh standalone battery energy storage systems project.

The project will generate 250 MW/500 MWh of electricity for two charge/discharge cycles each day.

Gensol Engineering’s Managing Director Anmol Singh Jaggi said in a statement that bagging this project makes it possible for us to make a significant impact on the Indian energy market while strengthening our position as a leading industry player in the renewable energy landscape, accelerating the future of BESS in India.

Gensol, a pioneer in the Solar and Renewables Industry, is a unique combination of youth and expertise. Gensol is expanding and broadening its portfolio in various areas of the renewable energy sector, building on its solid foundation. The Group’s main strengths are solar advisory, solar EPC, and O&M; however, it is also expanding rapidly in areas such as wind advisory, energy storage, electric vehicles, manufacturing, and electric vehicles.

For feedback and suggestions, write to us at [e-mail]

For opening a demat account click on: https://www.indiainfoline.com/

For doing stock trading & investments, go to: https://ttweb.indiainfoline.com/trade/Login.aspx

For loans, go to: https://www.iifl.com/