Stories
GK Energy Shares Soar 6% on MSEDCL Battery Storage Project Win
C
CNBC TV18•21-09-2026, 14:31
GK Energy Shares Soar 6% on MSEDCL Battery Storage Project Win
- •GK Energy's shares surged after receiving a Letter of Award from MSEDCL for a 150 MW/300 MWh Battery Energy Storage System (BESS) in Maharashtra.
- •The project, supported by viability gap funding, is expected to be commissioned within 18 months of signing the Battery Energy Storage Purchase Agreement (BESPA).
- •GK Energy will receive recurring monthly revenue for 15 years, with a tariff of ₹2.38 lakh per MW per month, totaling ₹42.84 crore annually (excluding GST).
- •This award follows a recent Letter of Empanelment for 1 lakh rooftop solar systems (100 MW combined capacity) valued at ₹454.5 crore.
- •The new battery storage project diversifies GK Energy's renewable energy portfolio and adds to its strong Q1 financial performance, which saw a 54% rise in net profit and 55.4% increase in revenue.
Key Questions Answered
GK Energy shares rose up to 5.5% after receiving a Letter of Award from MSEDCL to establish a 150 MW/300 MWh Battery Energy Storage System in Maharashtra.
The project is backed by viability gap funding support and must be commissioned within 18 months of signing the Battery Energy Storage Purchase Agreement. It provides recurring monthly revenue over a 15-year period with a tariff set at ₹2.38 lakh per MW per month.
Consolidated net profit grew 54% year-on-year to ₹57 crore, while operational revenue increased by 55.4% to reach ₹505 crore. Additionally, EBITDA rose 44% to ₹505 crore, though the EBITDA margin narrowed slightly to 16.3%.
