Bondada Engg spurts on securing Rs 836 crore battery storage order from TNGECL
Valued at Rs 836 crore, the project is the largest BESS order in Bondada's history and will be executed under the Build-Own-Operate (BOO) model. The facilities will provide two full cycles of charging and discharging per day, aimed at improving grid stability, managing peak power demand, and facilitating renewable energy integration in the state.
The company expects the project to be completed within 18 months from the execution of the energy storage purchase agreement. Revenues from the order will be recognized over a 12-year period.
Bondada emerged as the winning bidder through a tariff-based competitive bidding process conducted by TNGECL, supported by the Viability Gap Funding (VGF) mechanism under the state component. The project aligns with the National Framework for Energy Storage Systems (NFESS), 2023, and Tamil Nadu's goal to achieve 50% renewable energy by 2030.
The company said this strategic win is a key step toward its goal of achieving 10 GW of capacity in the green energy space by 2030.
Bondada Engineering provides engineering, procurement, and construction (EPC) services and operations and maintenance (O&M) services to companies operating in the telecom, renewable energy and Indian railways.
On a consolidated basis, the company's consolidated net profit surged 150.12% to Rs 111.88 crore on a 96.25% jump in revenue from operations to Rs 1,571.38 crore in FY25 over FY24.
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