Gujarat Urja Vikas Nigam Limited (GUVNL) has declared the winners for its 500 MW/1,000 MWh standalone battery energy storage systems (BESS) auction (Phase IV).
The winners include H.G. Infra Engineering (250 MW at Rs 225,985/MW/month), Advait Infratech (50 MW at Rs 226,000/MW/month), Kintech Synergy (100 MW at Rs 225,985/MW/month), and Bhilwara Energy (100 MW at Rs 225,993/MW/month). The tender, initially floated in October 2024 for 400 MW/800 MWh with a greenshoe option of an additional 400 MW/800 MWh, was increased to 500 MW/1,000 MWh after the introduction of viability gap funding (VGF). The VGF is capped at Rs 2.7 million/MWh or 30 per cent of the project’s capital cost, whichever is lower.