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HG Infra secures LoI for 250 MW battery energy system in Gujarat

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Synopsis:

HG Infra Engineering received a Letter of Intent to establish a 250 MW/500 MWh battery energy storage system in Gujarat. The project is part of a larger 500 MW/1000 MWh initiative, with completion expected in 18 months.

HG Infra Engineering news today

HG Infra Engineering Limited has secured a Letter of Intent (LOI) from Gujarat Urja Vikas Nigam Limited to set up a 250 MW/500 MWh standalone battery energy storage system in Gujarat. This project forms part of a broader 500 MW/1000 MWh energy storage programme under Phase-IV of GUVNL’s Tariff-Based Global Competitive Bidding initiative. The project benefits from Viability Gap Funding and is expected to significantly enhance Gujarat’s renewable energy infrastructure.

Also read: RBI approves HDFC Bank to acquire 9.5% stake in AU Small Finance Bank

H.G.INFRA ENGINEERING LTD

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1466.551.44 (3.63 %)

Updated - 07 January 2025
1479.15day high
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95625
VOLUME (BSE)

Key Takeaways

  • Project involves 250 MW/500 MWh battery energy storage system.

  • Completion timeline is 18 months from project initiation.

  • Part of a larger 500 MW/1000 MWh energy storage initiative.

  • Supported by Viability Gap Funding to bolster renewable energy capacity.

Also read: Adani Wilmar achieves 6% volume growth and 33% revenue rise in Q3

Project highlights and timeline

The 250 MW/500 MWh battery energy system will play a critical role in improving energy storage capabilities in Gujarat. HG Infra has committed to completing this project within 18 months from its start date, showcasing its ability to execute large-scale infrastructure projects efficiently. This initiative reinforces the company’s position in the renewable energy sector and aligns with India’s goal to expand sustainable energy solutions.

Project overview

Project Details

Specifications

Project Scope

250 MW/500 MWh Battery Energy Storage System

Location

Gujarat

Completion Timeline

18 months from initiation

Part of Larger Initiative

500 MW/1000 MWh Programme

Positive outlook for HG Infra Engineering

This development highlights HG Infra’s capabilities in handling advanced renewable energy projects, strengthening its portfolio in the sector. The announcement positively impacts the HG Infra Engineering share price, reflecting the company’s growing credibility in the infrastructure and energy markets.

HG Infra’s new project in Gujarat marks a significant step towards advancing India’s energy storage capabilities, further cementing its reputation in renewable energy infrastructure.

Also read: NTPC Green secures 1000 MW in UPPCL solar power project

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Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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