GK Energy Secures 150 MW/300 MWh BESS Order in Maharashtra, Projects ₹42.84 Crore Annual Revenue

GK Energy has secured a Letter of Award from Maharashtra State Electricity Distribution Company Limited for a 150 MW/300 MWh battery energy storage project in Maharashtra. 

The project comes with viability gap funding support and is expected to be commissioned within 18 months from the signing of the Battery Energy Storage Purchase Agreement. 

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Once commercial operations begin, the contract will generate recurring monthly revenue for 15 years. The tariff has been fixed at ₹2.38 lakh per MW per month, which translates into annual revenue of ₹42.84 crore, excluding GST. 

The order gives GK Energy a sizeable entry into utility-scale battery storage, a segment that sits alongside its existing renewable-energy operations. 

Until now, the company has largely been associated with decentralised clean-energy projects, including solar-powered agricultural pumping systems, rooftop solar installations and other distributed renewable projects. 

The Maharashtra project is structured differently from a conventional one-time EPC contract. While the installation itself is a one-time project, the agreement also provides for recurring monthly payments over the 15-year operating period. 

That long tenure gives the company a revenue stream that will begin only after the project enters commercial operation, rather than immediately on receipt of the award. 

GK Energy also clarified that MSEDCL is a domestic entity, that its promoters and group companies have no interest in the awarding authority, and that the contract does not qualify as a related-party transaction. 

Shares of GK Energy reacted positively to the announcement. The stock rose about 6% during the session, with Business Standard reporting a 5.97% rise to ₹126.95 after the order was disclosed. 

The company’s latest quarterly numbers also showed strong growth. Consolidated net profit rose 59.85% year-on-year to ₹59.64 crore in Q1 FY27, while revenue from operations increased 55.55% to ₹505.19 crore. 

For GK Energy, the immediate significance of the Maharashtra order lies in the combination of scale and contract duration. The company now has to complete the 150 MW/300 MWh system within the stipulated 18-month period, after which the ₹42.84 crore annual revenue stream is expected to begin and continue for 15 years.