Mumbai, Sept. 5 -- The contract involves setting up a 150 MW / 300 MWh standalone Battery Energy Storage System (BESS) at the 400kV Doni Substation (operating at 220kV voltage level) in Gadag District, Karnataka.

The project has been awarded under the Tariff Based Competitive Bidding (TBCB) mode on a Build-Own-Operate (BOO) basis for a tenure of 12 years. The order includes a rental agreement of Rs 2.54 lakh per MW per month, translating to an annual rental income of Rs 45.72 crore for the total capacity of 150 MW / 300 MWh. Additionally, the project will receive Viability Gap Funding (VGF) of Rs 27 lakh per MWh or 30% of the capital cost of the BESS, whichever is lower.

The company clarified that its promoters, promoter group, and rela...