GK Energy Limited jumps 6.18% after securing a 150 MW BESS project from Maharashtra State Electricity Distribution Company

GK Energy Ltd. is up 6.18% to Rs 127.17, although the stock has declined recently and is down 0.53% over the last one week.

GK Energy Limited has received a Letter of Award from Maharashtra State Electricity Distribution Company Limited to set up 150 MW / 300 MWh Battery Energy Storage Systems (BESS) in Maharashtra, supported by Viability Gap Funding. The project, awarded to a domestic entity, is expected to be commissioned within 18 months and will generate recurring monthly revenues for 15 years, with a tariff of Rs 2,38,000 per MW per month, resulting in a yearly revenue of Rs 42.84 Crores excluding GST. The company clarified that neither promoters, promoter groups, nor group companies have any interest in the awarding entity, and the contract does not constitute a related party transaction.

Trading volume reached 11.58 lakh shares today, a surge of 437.84% compared to the average volume of the last one week. GK Energy Ltd remained flat year-over-year, contrasting with an 8.17% loss in the NIFTY50 index.