Indian construction company HG Infra Engineering Limited (HGINFRA) has received a Letter of Intent (LOI) to build a 300-MW/600-MWh battery energy storage system in Gujarat. The LOI was signed with Gujarat Urja Vikas Nigam Ltd (GUVNL), the state’s power utility, the company announced on Friday.
This project is part of a larger energy storage initiative. HG Infra won the contract after succeeding in GUVNL’s Phase VI tender for 500 MW/1,000 MWh battery storage systems held last October. The tender was a competitive auction based on tariffs.
The company has 24 months to complete the project. The total investment is expected to be around INR 6.7 billion (approximately USD 78.4 million or EUR 68.7 million). HG Infra will not only build the battery system but also connect it to the state’s transmission network.
Earlier, at the end of last year, HG Infra also won a contract in GUVNL’s Phase IV auction. That deal involved building a 250-MW/500-MWh battery system, which is supported by India’s Viability Gap Funding (VGF) scheme.
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