Bondada Engineering secures EPC contract from GIPCL for a 20 MW / 120 MWh VRFB BESS project

Bondada Engineering Ltd. is currently down 0.87% to Rs 272.1, and has declined 11.76% over the last week.

Bondada Engineering Limited has received a Letter of Intent from Gujarat Industries Power Company Limited (GIPCL) for an Engineering, Procurement, and Construction (EPC) package to develop a 20 MW / 120 MWh Vanadium Redox Flow Battery Energy Storage System (VRFB BESS) at GIPCL’s power plant in Vadodara, Gujarat, including 10 years of Operations and Maintenance (O&M), marking the company's entry into advanced energy storage technologies and securing India's largest grid-scale VRFB BESS project. The project, with a broad consideration of 120 MWh, is expected to be completed within 18 months from the receipt of the Notice to Advance, and reflects the growing Indian energy storage market, currently at 9.3 GWh and targeting 236 GWh by 2030, while further strengthening Bondada Engineering’s position in the BESS sector.

Trading volume reached 92000 shares today, a decrease of 72.67% compared to the one-week average volume. Bondada Engineering Ltd. tanked by 35.34% year-over-year, underperforming the 11.82% loss registered by the NIFTY50 index.