Gensol Engineering on Wednesday informed exchanges that it has emerged as a successful bidder for Gujarat Urja Vikas Nigam's 250 MW (500 MWh) Battery Energy Storage Project worth Rs 1,340 crore.

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The project will supply electricity on an 'on-demand' basis to Gujarat State's DISCOMs during peak and off-peak hours, thereby extending renewable energy availability beyond solar hours, fulfilling energy storage purchase obligations, and enhancing grid resilience, a company statement said.

According to the statement, Gensol Engineering -- a pioneer in solar power engineering, procurement, and construction (EPC) services and electric mobility sector -- emerged as a successful bidder for 250 MW/500 MWh standalone battery energy storage systems (BESS) project from Gujarat Urja Vikas Nigam Ltd (GUVNL).The project will deliver 250 MW/500 MWh energy for two charge/discharge cycles per day.

Gensol Engineering Managing Director Anmol Singh Jaggi said in the statement, "Securing this project enables us to make a significant impact on the Indian energy market while solidifying our position as a leading industry player in the renewable energy landscape, propelling the future of BESS in India."