Godawari Power and Ispat spends Rs 609 crore on 20 GWh BESS

Godawari Power and Ispat Limited (GPIL) had incurred Rs 609 crore by September 30, 2026, on a 20 gigawatt-hour (GWh) battery energy storage system (BESS) project that it expects to commission in Q1 FY28. The project has stated planned capex of Rs 1,425 crore, a 1:1 debt-to-equity funding plan and 112 acres of acquired land in Maharashtra.

What is GPIL building in battery storage?

GPIL is developing a 20 GWh BESS project through Godawari New Energy Private Limited, its wholly owned subsidiary. The presentation describes the project as a diversification from steel into clean-energy infrastructure, with the site located in the AURIC Industrial Area in Maharashtra.

GPIL has acquired 112 acres for the project, completed soil testing and started compound-wall construction. The BESS site is in Maharashtra, where GPIL has also proposed a 0.7 million-tonne cold rolling mill complex at AURIC Bidkin; Maharashtra Industrial Township Limited issued an offer letter for 31.45 acres for that separate project.

GPIL has disclosed three storage projects of different sizes. On a comparable megawatt-hour basis, the 20 GWh project equals 20,000 MWh, compared with a 45 MWh BESS being implemented for captive solar plants and a separate 3,000 MWh commercial-and-industrial BESS plan. The captive-solar BESS is expected to be commissioned in December 2026, while the commercial-and-industrial project is targeted for March 2028.

How much has GPIL spent on the 20 GWh project?

GPIL had incurred Rs 609 crore on the 20 GWh BESS project as of September 30, 2026, against stated planned capex of Rs 1,425 crore. It said the project would be funded with debt and equity in a 1:1 ratio.

GPIL’s growth-capex pipeline identifies the same development as the GNEPL BESS project and lists approximate project cost of Rs 1,400 crore, incurred capex of Rs 609 crore through September 2026 and Rs 791 crore still to be incurred. This is Rs 25 crore below the Rs 1,425 crore planned-capex figure on the dedicated BESS project page, and the presentation does not explain the difference.

The 45 MWh captive BESS had incurred Rs 39 crore against approximate cost of Rs 40 crore by September 30, 2026. Equipment for that installation was already on site and installation was under way, while the separate 3 GWh commercial-and-industrial project has planned capex of Rs 135 crore but no incurred-spend figure in the pipeline table.

Which suppliers has GPIL selected for its BESS project?

GPIL has finalized supply arrangements for cells, BESS assembly equipment, balance-of-system equipment and power-conversion equipment for the 20 GWh project. Lead Intelligent Wuxi is to supply BESS assembly equipment, with factory acceptance testing, or FAT, expected by the end of August.

GPIL has finalized a long-term cell-supply agreement with EVE Power Co. Ltd. It has signed a balance-of-system, or BOS, supply agreement with ROCHE Energy, while power conversion system, or PCS, supply agreements have been executed with FIMER India and Hopewind.

GPIL said it finalized an energy management system, or EMS, vendor from India. Testing equipment has been finalized from REPPOWER and NEWARE in China, covering testing alongside procurement of cells, assembly machinery, BOS equipment and PCS equipment.

How is GPIL funding the battery expansion?

GPIL has received sanctioned credit facilities totalling Rs 2,795 crore for the BESS project, comprising Rs 700 crore of term debt and Rs 2,095 crore of working-capital facilities. The working-capital total includes Rs 100 crore of fund-based facilities and Rs 1,995 crore of non-fund-based facilities.

The sanctioned facilities sit alongside GPIL’s stated 1:1 debt-to-equity funding plan for the Rs 1,425 crore 20 GWh project. The presentation does not state how much of the Rs 2,795 crore facility has been drawn, identify the lenders or provide a timetable for debt drawdowns.

GPIL also said the Maharashtra government approved project incentives including electricity-duty and stamp-duty exemptions, power-tariff subsidy, interest and capital subsidies, State Goods and Services Tax-linked incentives, and Employees’ State Insurance and Employees’ Provident Fund reimbursements. The presentation does not quantify the incentives’ monetary value or state their timing.

When does GPIL expect its BESS projects to start?

GPIL expects to commission the 20 GWh BESS project in Q1 FY28. That target follows the September 30, 2026 reporting date for the Rs 609 crore of incurred capex and comes after the December 2026 target for its 45 MWh captive-solar BESS installation.

GPIL’s other disclosed battery-related projects have later schedules. Its 3 GWh commercial-and-industrial BESS project, with planned capex of Rs 135 crore, is targeted for March 2028, and its container manufacturing line for BESS and marine containers is also scheduled for March 2028 with planned investment of Rs 100 crore.

GPIL’s energy pipeline also includes captive solar capacity planned to increase from 190 megawatts to 290 megawatts. A 25 MW captive solar plant was commissioned and synchronized with the grid in May 2026 after Rs 73 crore of capex, while a 100 MW project had incurred Rs 240 crore by September 30, 2026 and was expected to be completed in December 2026.

Conclusion

GPIL has disclosed spending, land acquisition, supplier arrangements and sanctioned facilities for its 20 GWh BESS project. The Rs 609 crore incurred by September 30, 2026 represents the largest disclosed storage commitment in its project pipeline, exceeding the Rs 39 crore incurred on the 45 MWh captive BESS and the Rs 135 crore planned for the 3 GWh commercial-and-industrial facility.

The next stated milestone is Q1 FY28 commissioning of the 20 GWh project. GPIL’s subsequent disclosed targets are December 2026 completion of the 100 MW solar project and 45 MWh captive BESS, followed by March 2028 commissioning targets for the 3 GWh BESS and container manufacturing line; the presentation also leaves unresolved the Rs 25 crore difference between its two stated 20 GWh project-cost figures.