GPIL invests Rs 50 crore more in GNEPL for BESS project

Godawari Power and Ispat Limited (GPIL) has infused an additional Rs 50 crore into its wholly owned subsidiary, Godawari New Energy Private Limited (GNEPL), through a rights-based allotment of 5 crore equity shares of Rs 10 each. The allotment was completed on April 15, 2026.

Following this tranche, GPIL’s total investment in GNEPL has increased from Rs 300 crore (30 crore shares) to Rs 350 crore (35 crore shares), representing the subsidiary’s entire paid-up capital.

The funding will be used to meet capital expenditure and working capital needs for GNEPL’s first-phase 20 GWh Battery Energy Storage System (BESS) plant. The subsidiary, incorporated on June 25, 2025, has not yet commenced operations and currently reports no turnover. Its registered office is located in Raipur, Chhattisgarh, while the proposed BESS facility is planned in Maharashtra.

GPIL had earlier informed stock exchanges on February 6, 2026, about its board’s approval to invest up to Rs 200 crore in GNEPL. The latest allotment is part of this approved investment.

On April 13, 2026, GNEPL entered into a five-year supply agreement with EVE Power Co., Ltd. (EVE Power) for lithium ferro phosphate (LFP) cells. The agreement will support the first phase of GNEPL’s planned 20 GWh BESS manufacturing programme.

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