H.G. Infra Engineering Limited (HGINFRA), a leading infrastructure company, has been officially declared as a qualified bidder for an ambitious 250 MW/500 MWh Standalone Battery Energy Storage System (BESS) project by Gujarat Urja Vikas Nigam Ltd (GUVNL). This project is a part of the 500 MW/1000 MWh BESS initiative in Gujarat, which is being developed under the Tariff-Based Global Competitive Bidding (Phase-IV) with the support of Viability Gap Funding (VGF).

The battery energy storage project will play a crucial role in enhancing Gujarat's renewable energy capacity, enabling better storage and distribution of energy, especially during peak demand periods. H.G. Infra will be tasked with executing this project within a timeline of 18 months.

The project, with a significant capacity of 250 MW/500 MWh, will provide Gujarat with a sustainable energy storage solution, contributing to the state’s goals of increasing the integration of renewable energy sources, such as solar and wind power, into its grid. The company’s successful bid represents an important milestone in their continued efforts to participate in energy infrastructure projects that support the growth of clean energy in India.

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SEBI Compliance:

In compliance with Regulation 30 and 51 of SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015, the company has disclosed the details of this contract to the stock exchanges. H.G. Infra is also adhering to the SEBI Prohibition of Insider Trading Regulations, and as such, the Trading Window for the company’s securities remains closed for all designated persons and their immediate relatives until December 2, 2024.

Project Details (as per Annexure A):

• Order Awarded By: Gujarat Urja Vikas Nigam Ltd
• Nature of the Contract: Tariff-based project for setting up 500 MW/1000 MWh standalone battery energy storage systems.
• Contract Size: 250 MW/500 MWh.
• Execution Time Period: 18 months.
• Type of Contract: Domestic (Indian market).
• Related Party Transactions: Not applicable.

This project represents a significant step towards the sustainable future of Gujarat’s energy infrastructure. H.G. Infra’s involvement in this sector underscores the company’s expanding role in the renewable energy space, focusing on storage solutions that are crucial for balancing intermittent renewable power sources like wind and solar.

For more updates on H.G. Infra Engineering’s ongoing projects and renewable energy initiatives, please visit Best IPO to Apply Now - IPO List 2024, Latest IPO, Upcoming IPO, Recent IPO News, Live IPO GMP Today - Finance Saathi and Top News Headlines - Share Market News, Latest IPO News, Business News, Economy News- Finance Saathi.

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