H.G. Infra Engineering Secures Major Battery Energy Storage Project in Gujarat

BY ADMIN • FILED 01 Dec 2024, 7:23 PM

H.G. Infra Engineering Limited Secures Bid for Gujarat Battery Energy Storage Project

H.G. Infra Engineering Limited (HGINFRA) has been awarded a bid to develop Battery Energy Storage Systems (BESS) in Gujarat. The project is commissioned by Gujarat Urja Vikas Nigam Ltd (GUVNL), the state-owned power utility in Gujarat.

Project Overview:

Scope of Work: Establishment of 500 MW/1000 MWh Standalone Battery Energy Storage Systems in Gujarat.
Bidding Process: Tariff-Based Global Competitive Bidding (Phase-IV) supported by Viability Gap Funding.
HGINFRA’s Award: 250 MW/500 MWh of the total project capacity.
Project Timeline: Completion expected within 18 months.
Order Type: Domestic, tariff-based BESS project.
Promoter Details: No interest from HGINFRA’s promoter group or related parties in GUVNL.
Related Party Transaction Status: The order is not classified as a related party transaction.

Additional Highlights:

HGINFRA has disclosed this update to both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE).
The company has imposed a trading window closure for designated persons and their immediate family members until December 2, 2024, in compliance with insider trading regulations.

This achievement signifies a major milestone for HGINFRA as it advances its position in the renewable energy sector, particularly in battery storage, which plays a vital role in enhancing grid stability and integrating renewable power into the energy mix.