HG Infra shares surge 3% after securing 300 MW battery storage project
H.G. Infra Engineering Ltd (HGINFRA) shares rose 3% in early trading today after the company was declared a qualified bidder by Gujarat Urja Vikas Nigam Ltd (GUVNL) for a significant Battery Energy Storage System (BESS) project. As of 9:21 AM, the shares were trading 3.21% higher at Rs 1,175.30.
As part of GUVNL's Phase-VI Tariff-Based Global Competitive Bidding initiative, HGINFRA will develop 300 MW/600 MWh of standalone BESS capacity. This is a substantial portion of GUVNL's larger 500 MW/1000 MWh storage tender aimed at bolstering Gujarat's renewable energy infrastructure.
This contract award marks HGINFRA's continued expansion into the renewable and energy storage sector, reinforcing its commitment to clean energy solutions. The project is fully domestic and aligns with India's national agenda to increase energy storage capacity, ensuring grid stability and efficient energy management.
Set for completion within 24 months, the project is expected to significantly improve Gujarat's power grid reliability, supporting the integration of intermittent renewable sources like solar and wind energy.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at BusinessUpturn.com
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