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Solarworld secures ₹806.4 Cr GUVNL EPC order for 200 MW BESS

Solarworld secures ₹806.4 Cr GUVNL EPC order for 200 MW BESS

Synopsis:


Solarworld has finalised a ₹806.4 Cr EPC agreement with GUVNL for a 200 MW/400 MWh BESS project under tariff-based competitive bidding. The 12-year contract covers engineering, procurement and construction work for the upcoming storage facility in Gujarat.


Source:
Solarworld Energy Solutions Press Release (NSE Exchange Fillings) | Published on Dec 10, 2025

Disclaimer: This content has been published for informational purposes only. Bajaj Broking is not affiliated with, nor does it endorse or assume any responsibility for, the source material. Readers are advised to consult the original publication for complete and accurate context.

As quoted in the press release of Solarworld Energy Solutions (NSE Exchange Filings), the company has informed the exchanges that it has executed a binding EPC agreement with Gujarat Urja Vikas Nigam Limited (GUVNL) for developing a 200 MW / 400 MWh Battery Energy Storage System (BESS) in Gujarat. The agreement, signed on 8 December 2025, follows a Letter of Intent issued earlier under the Tariff-Based Competitive Bidding – Phase VI mechanism. The project carries an order value of ₹806.4 Cr, excluding taxes, and spans a 12-year execution period. The company submitted details in compliance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements.

Key Takeaways

  • Solarworld signed a Battery Energy Storage Purchase Agreement (BESPA) for 200 MW / 400 MWh BESS.

  • The order value is approximately ₹806.4 Cr, excluding taxes.

  • The contract originates from a domestic entity, GUVNL.

  • The 12-year timeframe covers complete EPC responsibilities.

  • The order does not fall under related-party transactions.

Contract Overview

The agreement provides a framework for Solarworld to build an entire 200 MW/400 MWh BESS system by engineering the design, obtaining materials, and constructing the structure. This agreement is the follow-up agreement after LOI issued on May 28th of 2025. The installed project will operate as "on-demand" usage to operate under a tariff based methodology outlined in the agreement.

This type of agreement is considered to be a strictly commercial agreement and does not include any promoter or group-related issues.

Contract Summary Table

Particulars

Details

Awarding Entity

Gujarat Urja Vikas Nigam Limited (GUVNL)

Project Capacity

200 MW / 400 MWh BESS

Contract Type

EPC (Engineering, Procurement, Construction)

Order Value

₹806.4 Cr (ex-tax)

Execution Period

12 years

Nature of Contract

Commercial; domestic

Related-Party Classification

Not applicable

Regulatory Disclosure Context

In compliance with Regulation 30 and the most recent SEBI Circular released on November 11, 2024, Solarworld has submitted additional documentation accompanied by Annexure-A that describes and includes all significant contract provisions thereby complying with the Regulatory requirements regarding the disclosure of all material events.

The document that was submitted is confirmation that neither the Promoter nor any Group Entities have a financial interest in the awarding party and that the transaction has been executed at arm's length.

Market Context And Industry Implications

Over the last year, battery storage projects have become increasingly important for power utilities, enabling the flexible operation of their grids. With this EPC award, Solarworld now has an additional significant project in its portfolio, reflecting the ongoing expansion of state-sponsored energy storage programs. Since there are multiple years' worth of future storage investment opportunities within the framework of this contract, it is anticipated to provide Solarworld with operational certainty without communicating any future expectations for performance.

Share Price Update

Solarworld Energy Solutions share price stands at ₹286 per share on the BSE as of 10 December 2025 at 03:30 PM IST, down by 0.52%.

Published Date : 10 Dec 2025

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