GK Energy Limited has received a Letter of Award (LoA) from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for setting up a 150 MW/300 MWh Battery Energy Storage System (BESS) in Maharashtra, with support under the Viability Gap Funding (VGF) mechanism.
The company disclosed the award under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, in a filing dated September 21, 2026.
Under the contract, GK Energy will establish the 150 MW/300 MWh BESS project for MSEDCL. The project is structured as a one-time contract with recurring monthly revenues for 15 years from the commencement of commercial operations.
The disclosed tariff is ₹2,38,000 per MW per month, which is expected to generate annual revenue of ₹42.84 crore, excluding GST, over the 15-year revenue period.
The BESS project is required to be commissioned within 18 months from the date of signing the Battery Energy Storage Purchase Agreement (BESPA).
MSEDCL is a domestic entity, and the company stated that neither its promoters nor promoter group or group companies have any interest in the awarding entity. The company also confirmed that the contract does not constitute a related-party transaction.
The award strengthens GK Energy’s presence in the battery energy storage segment and adds a long-term revenue stream from a utility-scale energy storage project in Maharashtra.
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