This agreement pertains to the establishment of a standalone battery energy storage system (BESS) project with a total capacity of 150 MW/300 MWh.
The BESPA has been formalized under the phase-VIII initiative of Gujarat Urja Vikas Nigam Ltd, following a competitive bidding process based on tariffs.
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The project benefits from viability gap funding (VGF) provided through the Power System Development Fund (PSDF), as part of the framework established by GUVNL for the contract award.
According to the agreement, Advait BESS Bhesaan Private Ltd will develop, own, and manage the standalone BESS project, which will be situated near the 220 kV Bhesan AIS substation of GETCO in Gujarat.
The company will provide the designated battery energy storage capacity to Gujarat Urja Vikas Nigam for an extended duration. The BESPA is set for a tenure of 12 years from the date of signing.
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The company confirmed receipt of the order from a domestic entity and clarified that the promoter, promoter group, and associated companies have no interest in the awarding entity, ensuring the transaction is outside related party transactions.
Shares of Advait Energy Transitions Ltd closed at ₹1,975, an increase of ₹30.95, or 1.59%, on the BSE today, June 2.
(Edited by : Shoma Bhattacharjee)
First Published: Jun 2, 2026 7:30 PM IST
