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“…we wish to inform you that Advait Infratech Limited (the company) has received Letter of Intent (LOI) from Gujarat Urja Vikas Nigam Ltd for 50 MW/500 MWH out of the project for setting up of 500 MW/1000 MWh Standalone Battery Energy Storage Systems in Gujarat under Tariff-Based Global Competitive Bidding (Phase-IV) with Viability Gap Funding Support,” Advait Energy Transitions said in a regulatory filing.
The project is part of GUVNL’s Tariff-Based Global Competitive Bidding (Phase-IV), supported by Viability Gap Funding. Advait will develop the 50 MW capacity as a standalone BESS to enhance energy storage capabilities in Gujarat’s power grid. The 50 MW BESS component is scheduled for completion within an 18-month timeframe.
Shares of Advait Energy Transitions Ltd ended at ₹1,542.00, up by ₹14.75, or 0.97% on the BSE.