Latest news with #Tariff-BasedGlobalCompetitiveBidding
Business Standard
22-04-2025
- Business
- Business Standard
HG Infra bags a BESS project of 300 MW/ 600 MWH
From Gujarat Urja Vikas NigamH.G. Infra Engineering has been declared as a qualified bidder by the Gujarat Urja Vikas Nigam for 300 MW/600 MWH out of the project of 500 MW/1000 MWh for setting up of Standalone Battery Energy Storage Systems in Gujarat under Tariff-Based Global Competitive Bidding (Phase-VI). Powered by Capital Market - Live News
Business Standard
22-04-2025
- Business
- Business Standard
H.G. Infra Engg gains on emerging as qualified bidder for Gujarat battery storage project
H.G. Infra Engineering advanced 2.26% to Rs 1,165.50 after the company announced that it had been declared a qualified bidder for a major battery energy storage project in Gujarat. In a regulatory filing, the company stated that Gujarat Urja Vikas Nigam (GUVNL) has declared it as a qualified bidder for 300 MW/600 MWh capacity out of the total 500 MW/1000 MWh project. The initiative involves setting up Standalone Battery Energy Storage Systems (BESS) under Phase-VI of GUVNLs Tariff-Based Global Competitive Bidding process. The project is expected to be executed over a period of 24 months. H G Infra Engineering is primarily involved in the construction of roads and highways in Odisha, Telangana, Rajasthan, Delhi, Andhra Pradesh, Haryana, and Uttar Pradesh. HGIEL is accredited AA class by the Public Works Department (PWD) of the Government of Rajasthan (GoR) and is registered as an SS class contractor by the Military Engineer Services (MES). The companys consolidated net profit increased 12.9% to Rs 115.18 crore in Q3 FY25 as compared with Rs 102.05 crore in Q3 FY24. Revenue from operations declined 7.3% YoY to Rs 1,264.84 crore in the December 2024 quarter.
Business Upturn
21-04-2025
- Business
- Business Upturn
H.G. Infra Engineering wins 300 MW battery storage project from Gujarat Urja Vikas Nigam
H.G. Infra Engineering Limited (HGINFRA) recently informed exchanges that the company has been declared a qualified bidder by Gujarat Urja Vikas Nigam Ltd (GUVNL) for a major battery energy storage project. As part of GUVNL's ambitious plan to enhance energy infrastructure in Gujarat, HGINFRA will be involved in setting up 300 MW/600 MWh of Standalone Battery Energy Storage Systems (BESS) out of the larger 500 MW/1000 MWh capacity tender. This project is being executed under Phase-VI of the Tariff-Based Global Competitive Bidding process. This contract award highlights HGINFRA's growing presence and expertise in renewable energy and energy storage solutions. The project, which is entirely domestic in nature, aims to strengthen Gujarat's power grid by integrating sustainable energy storage solutions that will support better energy management and grid stability. Advertisement Under the terms of the agreement, the execution timeline for the 300 MW/600 MWh battery storage system is set at 24 months. This development marks a step forward in India's efforts to enhance energy storage capacity, with GUVNL leading the way in facilitating large-scale storage solutions within the domestic market.
