Godawari New Energy (GNEPL), a wholly-owned subsidiary of Godawari Power & Ispat (GPIL), is setting up a 10 GWh battery energy storage system (BESS) manufacturing facility in Maharashtra. The board of directors at GPIL has recently approved this investment.

GPIL is a flagship company of the HIRA Group.

Under the approved plan, GPIL  will invest up to ₹3 billion (~$33.84 million) in GNEPL, to be infused over time in one or more tranches. The investment includes both the existing equity shareholding in GNEPL and participation in the company’s upcoming rights issue.

As part of the rights issue, GNEPL will offer 12,49,50,000 of 0.1% non-cumulative, optionally convertible, and redeemable preference shares to GPIL. These shares carry a face value of ₹10 each and will be issued at par, aggregating to ₹1.25 billion (~$14.01 million).

The funds raised through this investment will be utilized to meet both the capital expenditure and working capital requirements for setting up GNEPL’s plant.

GNEPL was incorporated in June 2025 with its registered office in Raipur, Chhattisgarh.

In a separate development, GPIL is setting up a 2 MTPA greenfield integrated steel plant, which will feature a Cold Rolling Mill (CRM). The contract for the engineering, design, manufacture, and supply of this mill has been entrusted to John Cockerill India. This CRM project will supply part of the raw material for manufacturing containers to GNEPL’s BESS plant.

The GPIL board has also approved setting up a 250 MW solar project for captive use for its CRM plant and an existing steel plant at Siltara, to replace high-cost thermal/grid power. Land acquisition for this purpose has been completed. The project, with an estimated investment of ₹7.5 billion (~$84.6 million), is expected to be commissioned by March 2027.

The company is also developing a 125 MW solar project for the captive use of its pellet and beneficiation plants at Ari Dongri, and steel melting shop expansion.

Its other existing solar projects in Chhattisgarh include 52 MW at Bemetara, 70 MW at Rajnandgaon, 24 MW at Maharumkala, and 18 MW at Tulsipur.

The company also has an 8.5 MW biomass project in Mahasamund, Chhattisgarh, and a 1.5 MW wind project in Karnataka.

Godawari Green Energy, another flagship company of the HIRA group, was acquired by Virescent Renewable Energy Trust for ₹6.65 billion (~$98.11 million). The company operated a 50 MW concentrated solar power project (parabolic trough) in Jaisalmer district, Rajasthan.

According to India’s Energy Storage Landscape 1H 2025 Report by Mercom India Research, the country added 48.4 MWh of energy storage capacity in 1H of 2025. India’s cumulative installed energy storage capacity reached 490 MWh by the end of June 2025.