Advait Energy Transitions Ltd. Secures Battery Energy Storage System Project in Gujarat
Advait Energy Transitions Ltd. has received a Letter of Intent from Gujarat Urja Vikas Nigam Limited (GUVNL) to establish 150MW/300MWh standalone Battery Energy Storage Systems (BESS) in Gujarat. The project will be executed under a Tariff-Based competitive bidding process (Phase-VIII), featuring Viability Gap Funding supported through PSDF and E-RA.The contract involves setting up the BESS projects within a domestic context. The execution period is 18 months from the date of the Battery Energy Storage Purchase Agreement. The project’s broad consideration is Rs 2,10,000 per MW per month, inclusive of taxes.
According to company disclosures, neither the company’s promoters, promoter group, or group companies have any interest in GUVNL. The order does not constitute a related-party transaction.
| SR. No. | Particulars | Details |
|---|---|---|
| 1 | Name of the entity awarding the order(s)/contract(s) | Gujarat Urja Vikas Nigam Limited (GUVNL) |
| 2 | Significant terms and conditions of order(s)/contract(s) awarded in brief | Setting up of projects of 150MW/300MWh Standalone Battery Energy Storage Systems (BESS) in Gujarat under Tariff-Based competitive bidding (Phase-VIII) with Viability Gap Funding supported through PSDF followed by E-RA |
| 3 | Whether order(s) / contract(s) have been awarded by domestic/ international entity | Domestic Entity |
| 4 | Nature of order(s) / contract(s) | Setting up of projects of 150MW/300MWh Standalone Battery Energy Storage Systems in Gujarat under Tariff-Based competitive bidding (Phase-VIII) with Viability Gap Funding supported through PSDF followed by E-RA |
| 5 | Whether domestic or international | Domestic |
| 6 | Time period by which the order(s)/contract(s) is to be executed | 18 Months from date of Battery Energy Storage Purchase Agreement |
| 7 | Broad consideration or size of the order(s)/contract(s) | Rs 2,10,000/ MW/Month, inclusive of taxes |
| 8 | Whether the promoter/ promoter group / group companies have any interest in the entity that awarded the order(s)/contract(s)? If yes, nature of interest and details thereof | - |
| 9 | Whether the order(s)/contract(s) would fall within related party transactions? If yes, whether the same is done at 'arm's length'. | - |
Source:
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.