Bondada Engineering Bags NTPC Renewable Energy BESS Order; Shares Rise

Mumbai, July 20: Bondada Engineering Ltd. has received a Notification of Award (NOA) from NTPC Renewable Energy Ltd. (NTPC REL) for an engineering, procurement and construction (EPC) package to develop a 100 MWh Vanadium Redox Flow Battery Energy Storage System (VRFB BESS) at Khavda Solar Park in Gujarat.

According to the company’s exchange filing, the project will be executed with Ubic Electric Systems Pvt. Ltd. as the technology partner. The contract covers the EPC package for the battery energy storage system and includes 10 years of operations and maintenance (O&M).

The company said the project is scheduled to be completed within 10 months from receipt of the notification of award.

Bondada described the project as strategically significant, noting that it marks the company’s entry into utility-scale long-duration energy storage using vanadium redox flow battery technology. Unlike conventional lithium-ion batteries, VRFB systems are designed for long operating life, high cycling capability and improved safety, making them suitable for grid-scale storage applications.

The company also said the project aligns with India’s growing focus on energy storage infrastructure and positions Bondada in the emerging long-duration energy storage segment.

Stock Market Snapshot

Bondada share price moved higher after the company announced the award from NTPC Renewable Energy.

As of 12:08 PM IST on July 20, 2026, the stock was trading at ₹293.45. The shares gained momentum in late morning trade following the disclosure, with buying interest lifting the stock from earlier levels as investors responded positively to the order win.

Market participants appeared to view the contract as strategically important, given its exposure to a fast-growing segment of renewable energy infrastructure.

Company Background

Bondada Engineering provides engineering, procurement and construction services across telecom, renewable energy and infrastructure sectors. In recent years, the company has expanded its clean energy portfolio by participating in solar and power infrastructure projects while pursuing opportunities in next-generation energy technologies.

The latest award strengthens its presence in battery energy storage systems, a segment expected to play an increasingly important role in integrating renewable energy into India’s power grid.

Conclusion

The NTPC Renewable Energy order represents a significant milestone for Bondada Engineering as it enters the utility-scale vanadium redox flow battery market. Beyond adding a new EPC project to its order pipeline, the contract gives the company exposure to one of India’s emerging energy storage technologies, positioning it to benefit from the country’s expanding renewable energy and grid modernisation efforts.

Source:

• https://www.bseindia.com/stock-share-price/bondada-engineering-ltd/bondada/543971
• https://www.bseindia.com/xml-data/corpfiling/AttachLive/38f0df71-3b90-435b-a817-c82cc786859a.pdf