Advait subsidiary wins 150 MW/300 MWh BESS order from Gujarat state utility

Govt Defence OrderBusiness Updates View source PDF Explain this filing

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On the reaction day the stock moved 5.0 pts more than Nifty Microcap 250 and 5.2 pts more than its Other Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Advait Energy's subsidiary Advait BESS Bhesaan Pvt Ltd executed a Battery Energy Storage Purchase Agreement with Gujarat Urja Vikas Nigam Ltd (GUVNL) to develop a 150 MW/300 MWh standalone BESS project in Gujarat. Awarded via Phase-VIII competitive bidding with viability gap funding support through the Power System Development Fund. The 12-year contract involves developing the project near the 220kV Bhesan substation of GETCO. Domestic order, no related party interest.

Likely market impact

Major long-term order from state utility boosts order book and strengthens position in India's energy storage segment.