Bondada Engineering shares hit a 5% upper circuit on June 24, 2025, after bagging a historic ₹836 crore order from Tamil Nadu Green Energy Corporation to develop India’s largest BESS project under the BOO model.
Bondada Engineering Limited shares price jumped by 5% and hit the upper circuit limit on June 24, 2025, following a major announcement. The company disclosed that it has received a Letter of Award (LOA) from Tamil Nadu Green Energy Corporation Limited (TNGECL) to establish one of the largest Battery Energy Storage Systems (BESS) in its history.
Below are the key highlights from the company’s official release to the stock exchange.
Bondada Engineering Limited announced the receipt of an LOA from Tamil Nadu Green Energy Corporation Limited for the development of standalone grid-scale Battery Energy Storage Systems with a combined capacity of 400 MWh. The installations will be located at Vellalaviduthi and Thennampatty in Tamil Nadu.
This project represents the highest storage capacity order ever received by Bondada in its BESS segment, aligning with the company's vision to reach 10 GW capacity in the green energy space by 2030.
The project will be developed under the Build-Own-Operate (BOO) model. Bondada Engineering emerged as the successful bidder through a tariff-based competitive bidding process conducted by TNGECL under the state component of Viability Gap Funding (VGF) support.
The order underscores Bondada's growing leadership in the energy storage sector and reaffirms its commitment to advancing India's clean energy ecosystem.
| Particulars | Details |
| Awarding Entity | M/S Tamil Nadu Green Energy Corporation Limited |
| Capacity | 400 MWh (200 MW x 2 hours) |
| Model | BOO with two-cycle charging/discharging for "on-demand" usage |
| Locations | Vellaviduthi and 400/230-110 KV Thennampatty substations |
| Execution Timeline | 18 months from execution of the Battery Energy Storage Purchase Agreement |
| Order Value | ₹8,36,00,64,000/- (inclusive of GST) over a 12-year period |
| Related Party Involvement | None |
Supporting National and State-Level Energy Goals
The BESS project supports both India’s National Framework for Energy Storage Systems (NFESS) 2023 and Tamil Nadu’s goal of achieving 50% renewable energy share by 2030. The system is expected to be fully integrated with the state electricity grid by 2027, contributing toward broader goal of achieving 500 GW non-fossil fuel capacity.
Disclaimer: The article is for informational purposes only and not investment advice.
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