GK Energy surges after bagging 15-year BESS project from MSEDCL

GK Energy rallied 5.97% to Rs 126.95 after the company received a Letter of Award (LoA) from Maharashtra State Electricity Distribution Company (MSEDCL) for setting up a Battery Energy Storage System (BESS) project in Maharashtra.

The company will develop a 150 MW/300 MWh BESS project with viability gap funding (VGF) support. The project is scheduled to be commissioned within 18 months from the date of signing of the Battery Energy Storage Purchase Agreement (BESPA).

Under the project, the tariff has been fixed at Rs 2,38,000 per MW per month, translating into annual revenue of Rs 42.84 crore, excluding GST. The revenue will accrue for a period of 15 years from the commencement of commercial operations.

GK Energy is one of India?s leading decentralised renewable energy infrastructure execution companies specializing in decentralized clean energy solutions, including solar-powered agricultural pumping systems, rooftop solar installations, and distributed renewable energy projects.

The company?s consolidated net profit jumped 59.85% to Rs 59.64 crore on 55.55% increase in revenue from operations to Rs 505.19 crore in Q1 FY27 over Q1 FY26.

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