Mumbai, Sept. 24 -- On September 21, 2026, GK Energy said it had received a Letter of Award from Maharashtra State Electricity Distribution Company for establishing Battery Energy Storage Systems in Maharashtra. The award covers 150 MW of capacity and 300 MWh of storage, and includes viability gap funding support. The company disclosed the development in an exchange filing under Regulation 30 of the Securities and Exchange Board of India's Listing Obligations and Disclosure Requirements Regulations.
The planned installation will combine 150 MW of power capacity with 300 MWh of energy storage capacity. The project is to be commissioned within 18 months from the signing of the Battery Energy Storage Purchase Agreement, or BESPA. The award has been made by a domestic entity, and the contract is classified as a one-time order with recurring monthly revenues.
Under the commercial terms disclosed by GK Energy, the tariff will be Rs. 238,000 per MW per month. Based on the awarded capacity, the arrangement is expected to generate annual revenue of Rs. 428.4 mn, excluding goods and services tax. The revenue period will run for 15 years from the date of commencement of commercial operations, subject to the project being commissioned and becoming operational.
The filing identifies Maharashtra State Electricity Distribution Company as the entity awarding the contract. GK Energy stated that its promoter, promoter group and group companies do not have any interest in the awarding entity. It also classified the order as outside the scope of related-party transactions.
The company's disclosure was signed by Shubham Suresh Jain, company secretary and compliance officer, in Pune. GK Energy said the detailed information required under the listing regulations and the applicable SEBI master circular had been provided in an annexure. The company also said the same information was available on its website and had been submitted to the National Stock Exchange of India and BSE.
Published by HT Digital Content Services with permission from Construction World.