Bondada Engineering Limited
Bondada Engineering Limited has received a Letter of Intent (LOI) from Gujarat Industries Power Company Limited (GIPCL) for an Engineering, Procurement and Construction (EPC) package. The project involves development of a 20 MW / 120 MWh Vanadium Redox Flow Battery Energy Storage System (VRFB BESS) at GIPCL's 165 MW natural gas power plant complex in Vadodara, Gujarat.
Key Project Details
- Awarding Entity: Gujarat Industries Power Company Ltd
- Project Nature: EPC Package for Development of 20MW/120 MWh Vanadium Redox Flow BESS, including 10 years of Operations and Maintenance (O&M)
- Project Location: GIPCL's 165 MW natural gas power plant site in Vadodara, Gujarat
- Entity Type: Domestic Entity
- Execution Timeline: 18 months from receipt of Notification of Award (NOA)
- Project Size: 120 MWh VRFB – EPC including O&M
- Related Party Status: No interest from promoter/promoter group/group companies in the awarding entity
- Related Party Transaction: Does not fall within related party transactions
Strategic Significance
The award represents India's largest grid-scale Vanadium Redox Flow Battery (VRFB) BESS project and demonstrates Bondada Engineering's capability to execute energy storage projects involving advanced Long Duration Energy Storage (LDES) technologies. The company highlights that this achievement strengthens its position in the rapidly expanding BESS sector and complements its existing renewable energy EPC portfolio.
Market Context
The disclosure references the Government of India's ambitious target of deploying approximately 236 GWh of Battery Energy Storage Systems by 2030, compared to the current installed capacity of around 9.3 GWh. This highlights the significant growth opportunity in the Indian energy storage market driven by renewable energy expansion and grid stability requirements.
Financial Consideration
The broad consideration for the contract is specified as "120 MWh VRFB – EPC including O&M" without explicit monetary value disclosed in the filing.