Pune based GK Energy Ltd has received a letter of award from Maharashtra State Electricity Distribution Company (MSEDCL) to set up a 150 MW / 300 MWh battery energy storage system in the state. The project is backed by viability gap funding.
The award carries a tariff of ₹2,38,000 per MW per month. GK Energy expects this to bring in ₹42.84 crore a year, excluding GST, for 15 years from commercial operation.
The project must be commissioned within 18 months of signing the Battery Energy Storage Purchase Agreement. The company said the award is not a related party transaction.
Market Research Outlook: State utilities are now buying storage directly, not just through central agencies, which widens the market for mid sized developers. A tariff near ₹2.4 lakh per MW per month with viability gap funding sets a useful benchmark for two hour systems. Maharashtra’s move adds to a fast growing pipeline of grid scale battery storage across India.
Image: Kecko from Eastern Switzerland via Wikimedia Commons (CC BY 2.0)
