Advait Energy Transitions Limited has informed the Exchange regarding 'Intimation Confirmation for L1 stage Successful bidder for 150 MW/ 300 MWh from the project Request for Setting up of Projects of 335 MW / 670 MWh Standalone Battery Energy Systems in Gujarat under Tariff-Based Competitive Bidding with Viability Gap Funding supported through PSDF (Phase-VIII)'.
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Advait Energy Transitions Limited has been confirmed as the L1 (lowest) bidder for 150 MW / 300 MWh of standalone Battery Energy Storage capacity in Gujarat. This is part of a larger 335 MW / 670 MWh tender floated by Gujarat Urja Vikas Nigam Limited (GUVNL), a state government utility. The project falls under Phase-VIII of a tariff-based competitive bidding process supported by Viability Gap Funding (VGF) through the central Power System Development Fund (PSDF). Advait has secured roughly 45% of the total tender capacity. Further details, including the Letter of Intent (LoI) or Award, will be disclosed in a separate announcement once received.
This is a positive development for Advait as it strengthens its order book in the fast-growing battery energy storage space and validates its competitive positioning. Material financial impact will depend on the tariff and contract value, which will be known once the LoI/Award is received.