Advait Energy Transitions Ltd (formerly Advait Infratech Ltd) on Monday (December 2) said it has been declared a qualified bidder by Gujarat Urja Vikas Nigam Ltd (GUVNL) for the development of a portion of the western state’s 500 MW/1000 MWh standalone battery energy storage systems.
The company will be responsible for setting up a 50 MW battery storage system under the contract, which has a project execution timeline of 18 months.
“…we wish to inform you that Advait Energy Transitions Limited (the Company or Advait) has been declared as a qualified bidder by the Gujarat Urja Vikas Nigam Ltd for 50 MW/500MW out of the project for setting up of 500 MW/1000 MWh Standalone Battery Energy Storage Systems in Gujarat under Tariff-Based Global Competitive Bidding (Phase-IV) with Viability Gap Funding Support,” Advait Energy Transitions said in a regulatory filing.
Also Read: Nazara unveils ₹196-cr investments, acquires 60% stake in Funky Monkeys
This project is part of phase IV of the tariff-based global competitive bidding with viability gap funding support.
The overall project involves the establishment of 500 MW/1000 MWh battery storage systems across Gujarat, aimed at improving grid stability and supporting the state’s renewable energy initiatives.
Shares of Advait Energy Transitions Ltd ended at ₹1,410.50, down by ₹41.30, or 2.84%, on the BSE.
Also Read: Hindustan Unilever pays ₹192.55 crore in tax demand dispute; recovery proceedings deferred
(Edited by : Shoma Bhattacharjee)
