Advait Energy Secures Utility-Scale Battery Storage Project Amid India’s BESS Boom

Synopsis: Advait Energy Transitions has secured a major battery energy storage project through its subsidiary, Advait BESS Bhesaan Private Limited. The company has signed a 12-year Battery Energy Storage Purchase Agreement (BESPA) with Gujarat Urja Vikas Nigam Limited (GUVNL) for a 150 MW / 300 MWh storage project, strengthening its position in India’s rapidly growing energy storage sector.

Shares of Advait Energy Transitions Limited attracted strong investor interest after the company announced a significant contract win in the battery energy storage segment.

Shares of Advait Energy Transitions Ltd, with a market capitalization of Rs. 2,184.66 crore, were trading at Rs. 1,996.40, up 1.22% from their previous closing price of Rs. 1,972.40. The stock touched an intraday high of Rs. 2,036.80 and a low of Rs. 1,975.00. The stock is currently trading close to its 52-week high of Rs. 2,200.00, while its 52-week low stands at Rs. 1,351.00.

In a regulatory filing dated June 2, 2026, the company informed the stock exchanges that its subsidiary, Advait BESS Bhesaan Private Limited, has signed a long-term Battery Energy Storage Purchase Agreement (BESPA) with Gujarat Urja Vikas Nigam Limited (GUVNL).

The agreement covers the development and operation of a 150 MW / 300 MWh Standalone Battery Energy Storage System (BESS) project under GUVNL’s Phase-VIII tender. Under the contract, the project will supply stored electricity to Gujarat’s power grid and will remain operational for a period of 12 years, providing the company with long-term revenue visibility.

The project marks a major milestone in Advait Energy Transitions’ expansion into the battery energy storage sector. Formerly known as Advait Infratech Limited, the company rebranded itself in 2024 to focus on renewable energy, battery storage, and green hydrogen opportunities.

The timing of the contract is significant. India’s Battery Energy Storage System (BESS) market is entering a high-growth phase, with industry estimates suggesting that annual capacity additions could increase nearly tenfold in 2026 to around 5 GWh. By securing a utility-scale 150 MW / 300 MWh project, Advait is moving beyond pilot-stage opportunities and establishing itself as an early participant in a market that is expected to reach approximately $3.7 billion by 2026.

The company also clarified that the contract was awarded through a competitive bidding process and that neither its promoters nor promoter-group entities have any interest in GUVNL. The transaction does not qualify as a related-party transaction.

The latest contract win comes at a time when the company is reporting strong business momentum. For FY26, Advait Energy Transitions posted consolidated revenue of Rs. 714.52 crore, registering a 79.7% year-on-year increase.

Consolidated net profit rose 75% to Rs. 58.08 crore, while the company maintained an EBITDA margin of 13.51%, reflecting stable operational efficiency despite rapid expansion. These numbers indicate that the company is not only growing its order pipeline but is also successfully converting opportunities into revenue and profits.

Record Order Book Provides Revenue Visibility

One of the biggest positives for investors is the company’s growing order book. As of March 31, 2026, Advait’s unexecuted order book stood at a record Rs. 1,304 crore, representing a massive 159% increase compared to the previous year. Such a large order pipeline provides strong visibility for future revenue growth.

The order book also highlights the company’s successful transition toward clean energy businesses. While Power Transmission Solutions continue to account for about 64% of the order book, the New and Renewable Energy segment has grown to 36%, demonstrating the increasing contribution of emerging energy businesses.

Future Growth Catalysts

Beyond the GUVNL project, Advait Energy Transitions has several growth drivers lined up. The company is currently setting up a 5 GWh integrated battery manufacturing facility in Gujarat, which is expected to strengthen its presence across the battery storage value chain. It is also developing a 30 MW electrolyzer manufacturing plant to support opportunities in the green hydrogen sector.

Management has outlined an ambitious long-term vision, targeting 1 GW of battery energy storage projects over the next five years. If executed successfully, this could significantly expand the company’s scale and position it among the leading players in India’s energy transition ecosystem.

Company Overview

Advait Energy Transitions Limited, formerly known as Advait Infratech Limited, is an Ahmedabad-based energy infrastructure company with experience across power transmission, substations, and telecom infrastructure. The company has completed more than 450 projects across over 45 countries.

In recent years, the company has strategically expanded into renewable energy, battery energy storage systems, and green hydrogen solutions, positioning itself to benefit from India’s accelerating clean-energy transition.

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