Bondada Engineering Secures ₹469.52 Crore BOS Contract for 250 MW Solar Project at Khavda RE Park

Major Contract Award from Adani Group

Bondada Engineering Limited has secured multiple Balance of System (BOS) orders totaling ₹469.52 crore. The contracts were awarded by Adani Green Energy Limited and Adani Green Energy Six Limited to support the development of a 250 MW solar power project in Gujarat. This award further expands the company’s portfolio in the utility-scale renewable energy sector and strengthens its long-term partnership with the Adani Group.

Project Specifications and Timeline

The project is situated in the Khavda region of Gujarat, a central hub for India’s renewable energy expansion. The following table details the primary parameters of the contract:

Defined Scope of Work: Balance of System (BOS)

The contract designates Bondada Engineering as the provider for the complete BOS package, covering the supply of goods and the performance of onsite services. The scope of responsibility extends from the initial design and engineering phases through to final commissioning.

The comprehensive work package includes:

• Engineering and Procurement: Complete design, manufacturing, procurement, quality assurance, packaging, and delivery of materials to the project site.
• Onsite Services: Receipt, unloading, storage, and handling of materials, followed by installation, testing, and commissioning.
• Infrastructure Works: Associated civil, mechanical, electrical, and structural works required for project completion.

Technical components specified within the BOS framework include:

• Inverters: Conversion systems to transition Direct Current (DC) from panels into grid-ready Alternating Current (AC).
• Mounting Systems: Racking structures composed of Galvanized Steel (GI) or Aluminum, designed to secure panels against environmental forces.
• Wiring and Connectivity: Installation of UV-resistant DC and AC cabling, utilizing specialized MC4 connectors for weatherproof and secure electrical contact.
• Safety and Protection: Electrical enclosures such as combiner boxes, circuit breakers, and surge protection devices (SPD) to manage voltage spikes and grounding requirements.

Strategic Milestone: 1 GW Annual Capacity Allocation

With this 250 MW project, Bondada’s cumulative executed capacity for the Adani Group reaches approximately 975 MW, nearing the 1 GW threshold. This follows previous contributions at the Khavda site, including a 650 MW supply and installation order and a ₹125.30 crore BOS contract for a 75 MW project.

To support the continuity of this partnership, Bondada management has stated that the company has allocated 1 GW of its annual capacity specifically for Adani projects for the next four years. This forward-looking commitment aligns with the company’s trajectory toward its 2030 target of achieving a cumulative renewable energy capacity of 25 GW.

Bondada Engineering: Corporate Order Book and Financial Context

As of May 2026, Bondada Engineering reported a record confirmed order book of ₹71,475 million. Notably, this figure excludes a potential project in Andhra Pradesh valued at an additional ₹90,000 million. The company’s business mix has shifted from its telecom roots, with renewable energy now contributing approximately 79% of total revenue.

The company’s financial standing is characterized by a zero net debt position as of March 31, 2026. Operational efficiency is reflected in a Return on Capital Employed (ROCE) of 42.6% and a Return on Equity (ROE) of 28.8%. These metrics support Bondada’s stated vision to reach USD 1 billion in revenue by 2030, a goal driven by solar EPC, battery energy storage systems (BESS), and expansion into defense production.

Summary of Regional Impact

The Khavda solar project is a critical component of the Gujarat Hybrid Renewable Energy Park, which is projected to attract ₹150,000 crore in investment. The facility aims for a total capacity of 30 GW by 2029, with 9.4 GW already commissioned as of April 2026. At full scale, the park is expected to generate approximately 100,000 jobs and reduce carbon emissions by 50 million tonnes annually, significantly impacting India’s long-term energy transition.