On January 5, 2026, Bondada Engineering Limited announced the receipt of a Letter of Award (LoA) from the Transmission Corporation of Andhra Pradesh Limited (AP TRANSCO). The award designates Bondada for the development of a large-scale standalone Battery Energy Storage System (BESS) project at the 400/220 kV substation in Hindupur, located in the Anantapur District of Andhra Pradesh.
Key Project Specifications
The technical and financial parameters of the award are detailed in the table below:
| Attribute | Details |
| Awarding Entity | Transmission Corporation of Andhra Pradesh Limited (AP TRANSCO) |
| Project Value | ₹627.00 Crores (₹627,00,09,768) |
| Technology | Standalone Battery Energy Storage System (BESS) |
| Capacity | 225 MW / 450 MWh |
| Tariff | ₹1.64 lakh/MW/month |
| Location | 400/220 kV Substation at Hindupur, Anantapur District, Andhra Pradesh |
| Execution Timeline | 18 months from receipt of LoA (January 5, 2026) |
| Project Model | Build-Own-Operate (BOO) |
| Operations & Maintenance | As per Battery Energy Storage Purchase Agreement (BEPA) terms |
Corporate Impact and Portfolio Context
The Hindupur project was awarded as part of a competitive state-wide auction conducted by AP TRANSCO for a cumulative capacity of 1,000 MW / 2,000 MWh across seven substations. With this 225 MW award, Bondada Engineering secured 22.5% of the total capacity tendered in this auction cycle.
The addition of the Hindupur asset brings Bondada’s cumulative BESS portfolio to nearly 1 GWh. This follows other significant domestic wins, including a 400 MWh project from the Tamil Nadu Green Energy Corporation (TNGECL) and a 100 MWh project from the Telangana Power Generation Corporation (TSGENCO).
According to regulatory filings, this award reflects a strategic transition from a pure-play Engineering, Procurement, and Construction (EPC) model toward a Build-Own-Operate (BOO) framework. This shift is intended to establish long-term annuity-based revenue streams. The company has identified that the BOO model enhances revenue stability and cash flow visibility beyond the construction phase, providing a predictable earnings profile for the corporate portfolio once the asset becomes operational.
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