NTPC Terminates ₹413 Crore BESS Contract

National Thermal Power Corporation Limited (NTPC) has terminated GR Infraprojects Ltd’s contract for a 400 megawatt-hour (MWh) battery energy storage system (BESS) project at the Mouda Super Thermal Power Station in Maharashtra. The contract was awarded in March 2026 for ₹413.37 crore.

The power company said the contractor failed to meet its contractual obligations and achieve the required progress. The project had been scheduled for completion within 15 months, but critical activities faced significant delays.

The company had issued a notice asking GR Infraprojects to take immediate corrective action. According to NTPC, the required remedial measures were not undertaken.

NTPC shares fell 1.81% on Friday, closing at ₹323.65, compared with ₹329.60 in the previous session.

NTPC Encashes ₹91 Crore In Securities

Following the termination, NTPC encashed available securities worth approximately ₹91 crore. The move was made in accordance with the terms of the contract.

NTPC said the Mouda BESS project is strategically important for supporting the integration of renewable energy. The project is part of the company's wider efforts to deploy battery storage alongside its conventional power generation assets.

The company is also working to ensure that the project is completed without further significant delays.

Project To Be Re-Tendered

NTPC has initiated the process of re-tendering the project at the risk and cost of GR Infraprojects. The company said it is taking steps to facilitate an early re-award and timely completion.

The termination follows a separate development involving GR Infraprojects. On 16 September, the company said it had issued a termination notice to NTPC, citing continuing force majeure and war-risk circumstances, along with contractual issues.

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