The order, received on July 6, covers the supply, installation, testing and commissioning of the conductors along with accessories and additional poles, where required. Under the contract, PSC/RSJ poles will be provided by DGVCL, while their accessories will form part of Advait Energy’s scope of work.
The project will be executed in Dakshin Gujarat Vij Company Ltd’s jurisdiction under the Vanbandhu Kalyan Yojana-2 (VKY-2) scheme or any other applicable scheme. The contract is valued at ₹51.62 crore, including taxes, and is scheduled to be completed within 15 months.
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The company said the order has been awarded by a domestic entity and that neither the promoter nor promoter group companies have any interest in the awarding entity. It also said the contract does not fall under related-party transactions.
Last month, Advait Energy Transitions said its wholly-owned subsidiary, Advait BESS Bhesaan Private Ltd, has executed a battery energy storage purchase agreement (BESPA) with Gujarat Urja Vikas Nigam Ltd.
The agreement is for the development of a standalone battery energy storage system (BESS) project with an aggregate capacity of 150 MW/300 MWh. The battery energy storage purchase agreement has been executed under Gujarat Urja Vikas Nigam Ltd, Phase VIII, following a tariff-based competitive bidding process.
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The project is supported by viability gap funding through the Power System Development Fund (PSDF), as part of the framework under which the contract has been awarded by GUVNL.
As per the agreement, Advait BESS Bhesaan Private Ltd will develop, own and operate the standalone BESS project. The project will be located in the vicinity of the 220 kV Bhesan AIS substation of GETCO in Gujarat.
Shares of Advait Energy Transitions Ltd ended at ₹2,148.00, down by ₹34.80, or 1.59%, on the BSE.
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(Edited by : Jomy Jos Pullokaran)
