BONDADA : WINS 20 MW/120 MWH VANADIUM REDOX FLOW BESS EPC ORDER

• Receives Letter of Intent from Gujarat Industries Power Company Ltd (GIPCL) for EPC package of a 20 MW / 120 MWh Vanadium Redox Flow Battery Energy Storage System (VRFB BESS) • Order includes 10 years of operations and maintenance at GIPCL's 165 MW natural gas power plant complex in Vadodara, Gujarat • Facilities to be completed within 18 months from receipt of the notice of award; domestic entity order • Company states this is India's largest grid-scale VRFB BESS project, marking its entry into long duration energy storage (LDES) technologies • Company cites India's target of ~236 GWh of BESS deployment by 2030 versus ~9.3 GWh installed currently as the growth opportunity • No order value disclosed in the filing

Bondada Engineering Ltd

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