Key Event Details

Date of Intimation: July 20, 2026

Awarding Entity: NTPC Renewable Energy Limited (NTPC REL)

Recipient Entity: Bondada Engineering Limited

Technology Partner: Delectrik Systems Pvt Ltd

Project Specifications

The award is for an Engineering, Procurement, and Construction (EPC) package for the development of a 100 MWh Vanadium Redox Flow Battery Energy Storage System (VRFB BESS). The project location is the Khavda Solar Park in Gujarat. The scope includes 10 years of Operation & Maintenance (O&M).

Project Significance and Technology

The project is described as India's first and largest grid-scale Vanadium Redox Flow Battery (VRFB) BESS project. The disclosure highlights the strategic advantages of VRFB technology over conventional Lithium Iron Phosphate (LFP) systems:

  • Operational Life: Over 25 years for VRFB vs. 12–15 years for LFP.
  • Benefits: High intrinsic safety, stable performance under frequent cycling with near-zero degradation, and reduced operational expenditure.
  • Strategic Rationale: India possesses domestic vanadium resources, and adopting VRFB technology reduces long-term import dependence, aligning with the Government of India's vision for indigenous energy security.

Market Context

The Government of India has set a target of deploying approximately 236 GWh of Battery Energy Storage Systems by 2030. The current installed capacity is stated to be around 3.3 GWh, indicating a significant growth opportunity in the energy storage market.

Regulatory Compliance Details (SEBI LODR Reg. 30)

The following details were provided as required under Regulation 30:

  • Nature of Order: EPC Package for the Development of a 100 MWh Vanadium Redox Flow BESS at Khavda Solar Park, including 10 years of O&M.
  • Awarding Entity Classification: Domestic Entity.
  • Execution Timeline: Completion of facilities is required within 10 months from the receipt of the NOA.
  • Broad Consideration/Size: 100MWh VRFB – EPC including O&M.
  • Promoter/Group Company Interest: No. The promoters/promoter group/group companies have no interest in NTPC Renewable Energy Limited.
  • Related Party Transaction: The order does not constitute a related party transaction.

Management Commentary & Outlook

The company states that the award reflects NTPC REL's confidence in Bondada's engineering expertise and execution capabilities. Bondada characterizes this as a foray into new energy storage technologies and a demonstration of its ability to adopt and execute projects involving advanced Long Duration Energy Storage (LDES) technologies. The company reaffirms its commitment to supporting India's energy transition by delivering innovative and technologically advanced infrastructure solutions.