H.G. Infra Engineering Secures Battery Storage Project from Gujarat Urja Vikas Nigam

H.G. Infra Engineering announced that it has received a letter of intent from Gujarat Urja Vikas Nigam for a 250 MW/500 MWh standalone battery energy storage project in Gujarat. The project, under Phase IV, has an 18-month completion period, the company said in a press release on the stock exchanges.

Project Details

In a significant development, H.G. Infra Engineering has received a Letter of Intent (LOI) from Gujarat Urja Vikas Nigam Limited for the construction of a 250 MW/500 MWh Standalone Battery Energy Storage System (BESS) in Gujarat.

This project is part of the 500 MW/1000 MWh Standalone BESS under Tariff-Based Global Competitive Bidding (Phase-IV), which also includes Viability Gap Funding support.

The contract, expected to be completed in 18 months, is a crucial step towards enhancing renewable energy integration in Gujarat.

Recent Business Development

H.G. Infra Engineering Limited, through its wholly owned subsidiary H.G. Banaskantha Bess Private Limited, entered into a Battery Energy Storage Purchase Agreement with NTPC Vidyut Vyapar Nigam Limited.

The agreement, signed on December 23, 2024, involves the procurement of 185 MW/370 MWh of energy storage capacity on a long-term basis. This marks a significant step in the company’s efforts to expand its presence in the renewable energy sector. The agreement is part of the ongoing growth of H.G. Infra in the energy storage domain.

Share Price Performance

H.G. Infra Engineering’s share price traded 4.96% lower at ₹1,435 at 1:55 PM on the NSE. The stock opened at ₹1,526.10 higher than ₹1,509.85 at its previous close. The share had lost more than 1% in the previous trading session.

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