GIPCL advances its 20 MW/120 MWh battery energy storage project in Gujarat as Bondada Engineering formally accepts the Letter of Intent, marking a key contractual milestone. Image Credit: AI Generated 
Projects

GIPCL's 20 MW/120 MWh BESS contract accepted by Bondada

Kaleeswari

Executive Summary

Gujarat Industries Power Company Limited (GIPCL) has confirmed that Bondada Engineering Limited has accepted the Letter of Intent (LoI) for a 20 MW/120 MWh Battery Energy Storage System (BESS) project on 17 October 2026. Soon after Gujarat Industries Power Company Limited (GIPCL) announced the contract award on 11 August 2026, and after receiving the approval from Gujarat Urja Vikas Nigam Limited (GUVNL), the acceptance was effected. The contract includes engineering, procurement, construction, testing, commissioning, and ten years of operation and maintenance. The battery system will be connected at Gujarat Industries Power Company Limited (GIPCL) substation, which is a 132 kV substation, in Gujarat marking a milestone for the proposed energy storage facility. 

Snapshot 

  • Project developer - Gujarat Industries Power Company Limited (GIPCL) 

  • Contractor - Bondada Engineering Limited 

  • Project type - Battery Energy Storage System 

  • Rated capacity - 20 MW/120 MWh 

  • Storage duration - 6 hours (calculated) 

  • Location - GIPCL 132 kV substation, Gujarat, India 

  • Initial contract disclosure - 11 August 2026 

  • LoI acceptance - 17 October 2026 

  • Approval authority - GUVNL 

  • O&M period - 10 years 

  • Current status - LoI accepted 

Bondada Engineering Limited, a Hyderabad-based company, has accepted the Letter of Intent from Gujarat Industries Power Company Limited (GIPCL), a power generation company in Vadodara, India. The LoI confirms the development of a battery energy storage system with a capacity of 20 megawatts and 120 megawatt hours. GIPCL disclosed this development in a filing that was submitted to the BSE and the National Stock Exchange of India on 17 October 2026. 
 
This development comes after GIPCL sent a notification to the stock exchange on 11 August 2026. That earlier notification announced that the BESS contract had been awarded to Bondada Engineering Limited. After receiving approval from Gujarat Urja Vikas Nigam Limited, or GUVNL GIPCL, the Letter of Intent was sent to Bondada Engineering Limited; Bondada Engineering Limited formally accepted the Letter of Intent by email on 17 October 2026. 
 
Under this contract, Bondada Engineering Limited will be responsible for designing and engineering the battery storage facility. Bondada Engineering Limited will also procure all materials, carry out civil and structural works, erect the facility, and conduct testing and commissioning. Additionally, the contract covers operation and maintenance services for a period of ten years. 
 
The proposed Battery Energy Storage System will have a rated capacity of 20 megawatts and 120 megawatt hours at the point of injection. That point of injection is identified as a GIPCL 132-kilovolt substation. The capacity of 20 megawatts and 120 megawatt hours equals six hours of storage at rated output. This makes the Battery Energy Storage System a long‑duration battery storage installation. 
 
The formal acceptance of the Letter of Intent represents a step in advancing the arrangements for the project. Battery energy storage systems can support electricity supply management by storing energy for use. 
 
GIPCL confirmed that all other details disclosed in its communication dated 11 August 2026 remain unchanged. The latest disclosure was submitted under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. 

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