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Bondada Engineering secures LoI from GIPCL

22 Oct 2026 Evaluate

Bondada Engineering has received a Letter of Intent (LoI) from Gujarat Industries Power Company (GIPCL) for the Engineering, Procurement and Construction (EPC) package for the development of a 20 MW / 120 MWh Vanadium Redox Flow Battery Energy Storage System (VRFB BESS), including 10 years of Operations and Maintenance (O&M), at GIPCL’s 165 MW natural gas power plant complex in Vadodara, Gujarat.

The award reflects GIPCL’s confidence in the company’s engineering capabilities, project execution expertise and experience in delivering large-scale renewable energy infrastructure projects. It also marks an important milestone in the company’s strategic expansion into advanced energy storage technologies.

Bondada Engineering is engaged in the business of providing engineering, procurement and construction (EPC) services and operations and maintenance (O&M) services to its pan India customers operating in telecom and solar energy industry.

Peers
Company Name CMP
HFCL 240.45
Bondada Engineering 263.55
Pace Digitek 138.40
GTL Infrastructure 1.01
STL Networks 35.21
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