| The order involves the setting up of a 100 MWh (50 MW x 2 hours) Battery Energy Storage System in Telangana for on-demand usage. This project falls under tariff-based global competitive bidding with viability gap funding (VGF) and will follow a build-own-operate (BOO) model at Shankarpally, near the 400/220 KV substation of TGTRANSCO.
The total order value is Rs 204.20 crore and the project is to be completed within 18 months from the execution of the Power Purchase Agreement (PPA).
The company clarified that the contract does not involve any related party transactions. It also confirmed that neither the promoter, the promoter group, nor any group companies have any interest in the awarding entity.
Bondada Engineering is an infrastructure company that provides engineering, procurement, and construction (EPC) services, as well as operations and maintenance (O&M) services, to customers in the telecom and solar energy industries throughout India.
On a full-year basis, the company's consolidated net profit surged 167.2% to Rs 44.73 crore on a 116.1% jump in revenue from operations to Rs 800.72 crore in FY24 over FY23.
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