GK Energy Ltd has entered the battery energy storage system (BESS) segment by winning a project in Maharashtra under competitive bidding.
In a release, GK Energy said that it has received a letter of award from state discom Maharashtra State Electricity Distribution Company Ltd for setting up 150 MW / 300 MWh BESS in Maharashtra.
The LoA has been issued under the utility’s tariff-based global competitive bidding, conducted through an e-reverse auction, for 2,000 MW / 4,000 MWh of BESS with viability gap funding (VGF) support.
GK Energy has been declared one of the successful bidders for a total capacity of 150 MW/ 300 MWh, at a tariff of Rs.2.38 lakh per MW per month, resulting in yearly revenue of Rs.42.84 crore excluding GST, for a period of 15 years from the date of commencement of commercial operations. The project is to be commissioned within 18 months from the date of signing of the battery energy storage purchase agreement (BESPA).
Evolution in decentralized energy segment
With this award, GK Energy enters the fast-growing BESS segment and further expands its capabilities within decentralised energy solutions. The development marks an important step in the company’s evolution into a broader decentralised energy solutions provider with capabilities across solar pumping, rooftop solar, distributed renewable infrastructure and BESS. Previously, GK Energy was primarily recognised for its leadership and large-scale execution capabilities in solar-powered agricultural pumping systems. Since then, the company has been progressively broadening its business in line with the strategic direction indicated to stakeholders from time to time. This expansion is intended to create a broader renewable-energy platform serving customers across rural, semi-urban and urban India, while reducing concentration on any single programme, scheme or end-market.
By adding BESS to its existing execution capabilities, GK Energy is building a more comprehensive platform across decentralised power generation, storage and delivery, the release noted.
Supporting national clean energy goals
Commenting on the award, Gopal Kabra, Chairman & Managing Director & CEO, GK Energy Ltd, said, “This award marks an important step in expanding our presence in the energy storage segment. This progression—from solar pumps to rooftop solar and now energy storage—reflects the direction in which we are building GK Energy. We intend to grow these businesses in parallel rather than remain dependent on any particular scheme or single segment. Our experience of executing renewable-energy systems at scale, our extensive field presence and our decentralised execution infrastructure give us a strong foundation to address opportunities across rural as well as urban India. Going forward, our focus will remain on disciplined execution, quality of delivery and expanding our capabilities across decentralised renewable energy and energy storage solutions, in support of the nation’s clean energy goals.”
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