Long-Term Infrastructure Contract
Advait Energy Executes 150 MW / 300 MWh Battery Energy Storage Purchase Agreement with GUVNL
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Advait Energy Transitions Limited, through its subsidiary Advait BESS Bhesaan Private Limited, has executed a Battery Energy Storage Purchase Agreement (BESPA) with Gujarat Urja Vikas Nigam Limited (GUVNL) for the development of a 150 MW / 300 MWh standalone Battery Energy Storage System (BESS) project in Gujarat. The agreement has a tenure of 12 years and was awarded under GUVNL’s Phase-VIII tender.
PRICE-SENSITIVE TRIGGER
Event: Execution of Battery Energy Storage Purchase Agreement (BESPA)
Type: Long-Term Infrastructure Contract
Impact: Positive
Immediate Effect: The execution of the BESPA secures a long-term revenue-generating energy storage project for Advait’s subsidiary and strengthens the company’s presence in India’s rapidly growing battery energy storage sector.
Key Metrics:
- Project Capacity: 150 MW
- Energy Storage Capacity: 300 MWh
- Contract Type: Battery Energy Storage Purchase Agreement (BESPA)
- Contract Tenure: 12 Years
- Project Location: Gujarat
- Tender Phase: GUVNL Phase-VIII
- Support Mechanism: Viability Gap Funding (VGF) through Power System Development Fund (PSDF)
Highlight:
- Advait’s subsidiary has secured a 12-year BESPA for a 150 MW / 300 MWh standalone battery energy storage project with GUVNL.
What Happened ?
Advait BESS Bhesaan Private Limited, a subsidiary of Advait Energy Transitions Limited, executed a Battery Energy Storage Purchase Agreement (BESPA) with Gujarat Urja Vikas Nigam Limited (GUVNL) on June 1, 2026.
The agreement covers development, ownership and operation of a standalone Battery Energy Storage System (BESS) project with a capacity of 150 MW / 300 MWh. The project was awarded through GUVNL’s tariff-based competitive bidding process under Phase-VIII and is supported through Viability Gap Funding.
The storage facility will be developed near the 220kV Bhesan AIS substation of GETCO in Gujarat and will provide contracted battery storage capacity to GUVNL on a long-term basis.
Key Details
150 MW / 300 MWh Standalone BESS Project:
- Agreement executed with Gujarat Urja Vikas Nigam Limited (GUVNL).
- Project capacity stands at 150 MW / 300 MWh.
- Contract structure is a Battery Energy Storage Purchase Agreement (BESPA).
- Awarded under GUVNL Phase-VIII tender process.
- Supported through Viability Gap Funding (VGF).
- Funding support is routed through the Power System Development Fund (PSDF).
- Project will be developed, owned and operated by Advait BESS Bhesaan Private Limited.
- Storage facility will be located near the 220kV Bhesan AIS substation of GETCO in Gujarat.
- Contract tenure extends for 12 years from the effective date of BESPA execution.
- GUVNL is a domestic counterparty.
- No promoter or related-party interest exists in the awarding entity.
- Transaction is not classified as a related-party transaction.
Note:
- The project represents a significant step in Advait Energy’s transition toward utility-scale energy storage infrastructure, a segment expected to play a critical role in renewable energy integration and grid stability.
Risk Analysis
Summary:
- While the agreement provides long-term revenue visibility, project execution, technology performance, regulatory developments and operational reliability remain key factors for successful implementation.
Key Risks:
- Timely project commissioning is critical.
- Battery technology performance must meet contractual obligations.
- Regulatory changes in the energy storage sector may impact economics.
- Long-term operational efficiency will determine project returns.
- Dependence on grid infrastructure and integration timelines.
Worst Case Scenario:
- Delays in project execution, commissioning challenges or adverse regulatory changes could postpone revenue realization and reduce expected project returns.
Risk Level: Medium
Company Commentary
- Advait BESS Bhesaan Private Limited has executed the BESPA with GUVNL.
- The subsidiary will develop, own and operate the standalone BESS project.
- The project capacity is 150 MW / 300 MWh.
- The project was awarded through a competitive bidding process under GUVNL Phase-VIII.
- The contracted battery storage capacity will be made available to GUVNL on a long-term basis.
- The project benefits from Viability Gap Funding support through PSDF.
Official Exchange Filing: Advait Energy Transitions Limited
