India, Sept. 21 -- GK Energy Limited has received a Letter of Award (LoA) from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for setting up a 150 MW/300 MWh Battery Energy Storage System (BESS) in Maharashtra with Viability Gap Funding (VGF) support.
The project will be executed within 18 months from the signing of the Battery Energy Storage Purchase Agreement (BESPA) and will generate recurring monthly revenues for 15 years from the commencement of commercial operations.
Under the agreement, the tariff is Rs 2,38,000 per MW per month, translating into annual revenue of approximately Rs 42.84 crore, excluding GST, for the 15-year period.
The company said the order is from a domestic entity and is not a related-party...