Bondada Engineering has informed that the company has received a Notification of Award (NOA) from NTPC Renewable Energy (NTPC REL) for the Engineering, Procurement and Construction (EPC) Package for the Development of a 100 MWh Vanadium Redox Flow Battery Energy Storage System (VRFB BESS) at Khavda Solar Park, Gujarat., with Delectrik Systems as Technology Partner. The award reflects NTPC REL's confidence in Bondada's engineering expertise, execution capabilities, and proven track record in delivering large-scale renewable energy projects and Bondada’s agility for foraying into new energy storage technologies. The project is strategically significant as it involves Vanadium Redox Flow Battery (VRFB) technology, a next-generation energy storage solution that offers several advantages over conventional Lithium Iron Phosphate (LFP) battery systems. While LFP batteries are largely dependent on imported cells and typically have an operational life of 12-15 years, VRFB technology offers a significantly longer service life of over 25 years, with high intrinsic safety, stable performance under frequent cycling with near zero degradation and reduced operational expenditure. Furthermore, India possesses domestic vanadium resources, and VRFB technology reduces long-term import dependence and aligns with the Government's vision of strengthening indigenous energy security. The Government of India has set an ambitious target of deploying approximately 236 GWh of Battery Energy Storage Systems by 2030, whereas the current installed capacity is only around 3.3 GWh. This highlights the immense growth opportunity in the Indian energy storage market, driven by the rapid expansion of renewable energy capacity and the increasing need for grid stability.
The above information is a part of company’s filings submitted to BSE.
