Bondada Engineering's board approved the migration of its equity shares from the BSE SME platform to the main board at a meeting held on 24 July 2026, subject to shareholder approval. According to Business Standard, the migration will also include listing and trading on the National Stock Exchange of India (NSE) and other related matters. This strategic move comes after the company secured India's first 100 MWh VRFB project, positioning it for growth in the energy storage sector.
Bondada Engineering Limited has secured a significant contract from NTPC Renewable Energy Limited (NTPC REL) for the development of a 100 MWh Vanadium Redox Flow Battery Energy Storage System (VRFB BESS) at Khavda Solar Park, Gujarat. According to the company's exchange filing, the project will be executed in partnership with Delectrik Systems Pvt Ltd, which will serve as the technology partner. The contract includes 10 years of operation and maintenance (O&M), with completion required within 10 months from receipt of the Notification of Award (NOA). This landmark achievement marks a significant milestone for Bondada Engineering as it develops India's first and largest grid-scale Vanadium Redox Flow Battery (VRFB) Energy Storage System.
The project execution will be carried out in partnership with Delectrik Systems Pvt Ltd as the technology partner, as reported by Business Upturn. This collaboration leverages advanced Long Duration Energy Storage (LDES) technologies, positioning the project as India's first and largest grid scale VRFB BESS project. According to the company's exchange filing, the project showcases Bondada Engineering's engineering capabilities and its ability to execute advanced long-duration energy storage (LDES) technologies. The contract highlights the company's growing presence in the energy storage segment and demonstrates its capability to adopt and execute energy storage projects involving cutting-edge storage technologies.
The VRFB technology offers significant advantages over conventional Lithium Iron Phosphate (LFP) battery systems, according to Business Upturn reports. VRFB technology provides a service life of over 25 years compared to LFP batteries' typical 12-15 year operational life, with high intrinsic safety and stable performance under frequent cycling with near zero degradation. Additionally, India possesses domestic vanadium resources, making VRFB technology a strategic choice that reduces long-term import dependence and aligns with the Government's vision of strengthening indigenous energy security. The technology also provides reduced operational expenditure compared to conventional battery systems and supports India's goal of reducing dependence on imported battery cells.
This landmark order represents a significant milestone for India's energy storage infrastructure, as reported by Business Upturn. The award comes at a time when India is accelerating investments in battery energy storage to support its expanding renewable energy capacity. According to Essential Business Intelligence, the government has set a target of deploying around 236 GWh of Battery Energy Storage Systems (BESS) by 2030, compared with the current installed capacity of approximately 3.3 GWh, creating substantial growth opportunities for companies operating in the sector. The strategic location at Khavda Solar Park, Gujarat, positions the facility to serve the growing renewable energy capacity in the region, demonstrating Bondada Engineering's ability to execute energy storage projects involving next-generation technologies and strengthening its presence in the battery energy storage systems segment.
