Gensol Engineering Gets GUVNL’s 70 MW BESS Project Worth INR 450 Crore
The project will be developed by Gensol under a Tariff-Based Global Competitive Bidding model to provide energy storage capacity to Gujarat Urja Vikas Nigam Limited (GUVNL) in Gujarat on-demand basis.
March 11, 2024. By News Bureau
The project will be developed by Gensol under a Tariff-Based Global Competitive Bidding model to provide energy storage capacity to Gujarat Urja Vikas Nigam Limited (GUVNL) in Gujarat on-demand basis.
The project once commissioned will provide electricity on an 'On-Demand' basis to Gujarat State's DISCOMs during the peak and off-peak hours. The project will deliver 70 MW / 140 MWh energy for two charge/discharge cycles a day. The project will contribute INR 450 Crore to Gensol’s revenue over the period of contract.
Battery Energy storage has been increasingly deployed globally for renewables integration and managing uncertainty in the electricity grid. Gensol will provide state-of-the-art energy storage solutions integrated with advanced energy management systems while meeting stringent availability and efficiency performance metrics. This reflects Gensol's capability to execute projects that meet the growing demand for reliable and efficient energy storage solutions worldwide.
Securing the project is a testimony of Gensol’s EPC capabilities and efforts towards integration into the value chain, particularly in Advanced Chemistry Cell-based Energy Storage Systems. Being one of the first major projects of standalone BESS in the country, the prospects for BESS will grow significantly on the back of strong policy support from the Government.
Ali Imran Naqvi, CEO of Gensol Engineering Limited (EPC Business), expressed his optimism about the future of the BESS market and Gensol's role in it: "This landmark project with GUVNL is not just a testament to Gensol's expertise and reliability in the renewable energy domain; it is a beacon for our future direction. The BESS market is poised for exponential growth, and Gensol is at the forefront, ready to lead this transformation. As pioneers in this space, we are dedicated to leveraging our comprehensive capabilities to drive innovation, sustainability, and value for our stakeholders. This project is a remarkable feat, positioning Gensol as a quintessential industry leader in the renewable energy landscape."
This win highlights Gensol's commitment to supporting India's energy transition goals through innovative and sustainable solutions.
please contact: contact@energetica-india.net.
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