Advait Energy Transitions Limited has completed the winding up of its wholly owned subsidiary Advai Energy Holdings AS, with the liquidation process finalized on March 31, 2026. The company informed the stock exchanges through a regulatory filing under Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.

Liquidation Details

The Norwegian subsidiary has been completely wound up and liquidated as of March 31, 2026. The company filed the necessary intimation with BSE Limited and National Stock Exchange of India Limited on April 2, 2026, providing comprehensive details of the liquidation process.

Financial Impact Assessment

The subsidiary's financial contribution to the parent company was minimal at the time of liquidation. The entity recorded zero turnover for FY 2024-25 and maintained a negative net worth position.

Regulatory Compliance

The liquidation was conducted as a voluntary winding up process, with no consideration received for disposal of shares. The company will receive approximately NoK 7,059 after deducting bank charges and other applicable fees upon closure of relevant bank accounts. The filing was signed by Company Secretary and Compliance Officer Deepa Fernandes, ensuring full regulatory compliance with SEBI requirements.

Advait Energy Transitions Limited has announced securing a significant Battery Energy Storage Systems (BESS) project in Gujarat, marking a notable expansion in the renewable energy storage sector. The company received a Letter of Intent from Gujarat Urja Vikas Nigam Limited (GUVNL) for establishing 150MW/300MWh Standalone Battery Energy Storage Systems projects in the state.

Project Details and Specifications

The project was awarded under Phase-VIII of tariff-based competitive bidding with Viability Gap Funding supported through PSDF followed by E-RA. The comprehensive project specifications demonstrate the scale and technical requirements of this energy storage initiative.

Financial and Execution Terms

The project carries specific financial parameters and execution timelines that outline the commercial framework of the agreement. The consideration structure reflects the monthly revenue model for the battery storage operations.

Regulatory Compliance and Documentation

The announcement was made in compliance with SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, specifically under Regulation 30. The company filed the corporate announcement on March 31, 2026, providing comprehensive details as required under SEBI Circular No HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

The project represents a domestic initiative with no related party transactions involved. The company confirmed that promoters, promoter groups, or group companies have no interest in the entity that awarded the contract, ensuring arm's length transaction compliance.

Strategic Significance

This BESS project positions Advait Energy Transitions Limited in the growing energy storage market, particularly in Gujarat's renewable energy infrastructure development. The 18-month execution timeline provides a clear roadmap for project completion, while the monthly consideration structure of Rs 2,10,000 per MW establishes a steady revenue stream upon commissioning.