Bondada Share Price Hits Upper Circuit of 5% After Securing ₹836 Crore BESS Order

Bondada Engineering share price hits 5% upper circuit on June 24, 2025. This spike comes after a significant development that marks a milestone in the company's clean energy journey. Here’s what happened.

Letter Of Award From TNGECL For BESS Worth ₹836 Crore

Bondada Engineering Limited received a Letter of Award (LOA) from Tamil Nadu Green Energy Corporation Limited (TNGECL) for setting up Battery Energy Storage Systems (BESS). Valued at ₹836 crore (including GST), this is the largest BESS order in the company's history, marking a significant leap towards its vision of achieving 10GW in green energy capacity by 2030.

Project Overview And Objectives

The awarded project includes the development of standalone grid-scale BESS facilities with a total storage capacity of 400 MWh. These installations will be located at Vellalaviduthi and Thennampatty in Tamil Nadu. The main goals of the project are to stabilise the power grid, integrate renewable energy sources, and support peak power demand, all of which are in line with Tamil Nadu’s transition towards clean energy.

Execution Model And Competitive Bidding

The project will be implemented under the build own operate (BOO) model. Bondada Engineering emerged as the successful bidder in a competitive tender conducted by TNGECL. The company emphasised that this project signifies a crucial milestone in its energy storage roadmap and is a testament to its commitment to India’s clean energy future.

Alignment With National And State Energy Goals

This initiative supports India’s National Framework for Energy Storage Systems (NFESS), 2023, and aligns with Tamil Nadu’s target of sourcing 50% of its energy from renewable sources by 2030. The BESS units are expected to be fully integrated into the state grid by 2027, helping India reach its 500 GW non-fossil fuel capacity target.

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Conclusion

Bondada Engineering’s upper circuit movement comes amid a strategic development that expands its footprint in the green energy space. With this order, the company moves a step closer to its long-term vision of becoming a significant player in battery energy storage systems, while contributing to the national energy transition goals.

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