A Letter of Award was issued by MSEDCL to GK Energy for a 150 MW/300 MWh Energy Storage (BESS) project in Maharashtra. The project is supported by viability gap funding, and commissioning is expected within 18 months of signing the purchase agreement. The project is expected to generate an annual revenue of INR 428.4 million (~ $4.47 million), excluding GST, over a 15-year revenue period.
SNAPSHOT
Company: GK Energy
Project: BESS
Location: Maharashtra
Capacity: 150 MW / 300 MWh
Awarding entity: Maharashtra State Electricity Distribution Company
Support: Viability gap funding
Commissioning timeline: 18 months from BESPA signing
Tariff: INR 238,000/MW/month
Expected annual revenue: INR 428.4 million, excluding GST
Revenue period: 15 years from commercial operation
GK Energy secures a letter of award for BESS project in Maharashtra. Announced on September 21, 2026, the award covers 150 MW of power capacity and 300 MWh of energy storage capacity. The viability gap funding supports the project, making it a significant addition to GK Energy’s energy storage portfolio.
According to the company’s disclosure, the project is expected to be commissioned within 18 months from the signing of the Battery Energy Storage Purchase Agreement (BESPA). The contract has been classified as a one-time order with recurring monthly revenues, giving the project a long-term commercial structure.
The commercial arrangement includes a tariff of INR 238,000 (~$2,480 USD) per MW per month. Based on the awarded capacity, GK Energy expects the project to generate annual revenue of around INR 428.4 million ($4.46 million), excluding goods and services tax. The revenue period will extend for 15 years from the start of commercial operations, subject to the project being completed and becoming operational.
The award places energy storage at the center of the project rather than treating batteries as a supporting component of a conventional power installation. A 300 MWh storage system can provide a structured way to manage stored electricity over the project’s operating period.
MSEDCL is the awarding entity. GK Energy has also stated that its promoter group companies have no interest in MSEDCL. The company has therefore classified the contract as being outside the scope of related-party transactions.
The disclosure was signed by Shubham Suresh Jain, Company Secretary and Compliance Officer, in Pune. GK Energy said that the detailed information required under applicable listing regulations and the relevant SEBI master circular had been included in an annexure. The company also confirmed that the information was made available on its website and submitted to both the National Stock Exchange of India and BSE.
Overall, the award marks GK Energy’s entry into a sizeable battery storage project in Maharashtra, combining 150 MW of capacity, 300 MWh of storage, an 18-month commissioning timeline, and a 15-year revenue period.