Gujarat power company awards ₹239 crore storage project
pre-market2 sources ↓machine-written, see hownot a recommendation
- GIPCL close
- ₹169.36
- On the day
- +0.06%
- 52-week high
- ₹211.71
- 52-week low
- ₹119.90
Gujarat Industries Power Company signed a ₹239 crore contract with Bondada Engineering for a 20 MW/120 MWh Battery Energy Storage System at its 132 kV substation in Vadodara. The agreement covers design, engineering, supply, civil works, erection, testing, commissioning and operations and maintenance for 10 years. The EPC component is valued at ₹219.87 crore, while the project has an 18-month execution window. ⚡
Bondada Engineering formally accepted the Letter of Intent on 17 Oct 2026, completing the contract award process that was first intimated on 11 Aug 2026. Gujarat Urja Vikas Nigam approval had been received before the Letter of Intent was issued. The storage system is designed to inject power at the substation point of interconnection, giving the utility a contracted asset for managing electricity availability and grid flexibility. 🔋
For the power sector, the order highlights the expanding role of grid-scale storage alongside generation and transmission assets. The 120 MWh capacity provides six hours of storage at the rated 20 MW output, based on the project specifications. The 10-year operations and maintenance scope also extends the service relationship beyond construction, although the reported contract details do not separately disclose its value.
OI Charts data showed Gujarat Industries Power Company closing at ₹169.36 on 16 Oct 2026, up 0.06% on the day, with volume of 192,455 shares. The stock had gained 1.7% over five sessions but remained down 9.0% over 20 sessions. Its 52-week range stood between ₹119.90 on 30 Mar 2026 and ₹211.71 on 3 Sep 2026. The stock’s muted session move indicates the contract confirmation had not produced a large immediate price reaction in the available data.
Investors will next track construction progress, commissioning updates and the start of the 10-year maintenance period. Further exchange filings may also clarify project milestones, commercial operation and any changes to the disclosed scope or timeline.
Source: Sahi, 17 Oct 2026; Kalkine, 17 Oct 2026.
Not investment advice. For informational purposes only.