Bondada wins ₹4.7B Adani Green package

Bondada Engineering has added another Khavda package to a fast-growing run of work from Adani Green, and the details matter more than the headline number. A May 18 stock-exchange filing shows Bondada received multiple orders worth ₹469.52 crore, including taxes, from Adani Green Energy Ltd and Adani Green Energy Six Ltd for a 250 MW balance-of-system, or BoS, package at Khavda in Kutch, Gujarat. The company said the work covers supply of goods and onsite services and is to be executed over eight months. The award extends a relationship that Bondada formalized with Adani in November 2025, when the two companies signed a five-year strategic design and construction partnership in renewable energy. Bondada said at the time that a first tranche of 650 MW solar works had already been awarded under that framework. ### What exactly is Bondada being paid to do? (bseindia.com) The May 18 filing says Bondada will handle the BoS package for a 250 MW solar project at Khavda, one of India’s largest renewable-energy hubs. In utility-scale solar, BoS usually refers to the non-module, non-inverter package needed to make a plant buildable and energizable — the site-side equipment, structures, electrical works and field services that connect generation blocks to the rest of the project. (bseindia.com) The filing itself describes the scope as “supply of goods and onsite services.” A December 2025 disclosure tied to an earlier 650 MW Adani package gives a fuller picture of how Adani has defined similar Khavda BoS work. That filing said the scope included design, engineering, manufacturing, procurement, quality assurance, packing and delivery of materials at site, along with associated activities such as factory acceptance tests, rectification and remedial works. (bseindia.com) ### Why does this package stand out inside the Khavda buildout? Khavda is not a single-asset solar farm. Adani Green has described it as part of its 30 GW renewable-energy buildout in Gujarat, and the company’s website says the site had reached 2,250 MW of operational capacity after initial wind generation began in July 2024. That scale is why BoS awards draw attention. A 250 MW package at Khavda is not just a procurement line item; it is one more construction block inside a site where multiple developers, subsidiaries and contractors are building in parallel. (bseindia.com) Bondada’s filing says the new order lifts its cumulative executed capacity for the Adani Group to 975 MW. An April 29 filing had put that figure at 725 MW after a separate 75 MW Khavda BoS order worth ₹125.30 crore. (adanigreenenergy.com) ### Who are the counterparties on this contract? The May 18 filing names Adani Green Energy Ltd and Adani Green Energy Six Ltd as the entities awarding the orders. Bondada said the contracts are domestic, are not related-party transactions and carry a total consideration of ₹469,52,31,028 inclusive of taxes. Adani has used multiple project entities at Khavda in earlier disclosures as well. (bseindia.com) The December 2025 filing for the 650 MW package also named Adani Green Energy Ltd and Adani Green Energy Six Ltd on the customer side. ### How does this fit Bondada’s recent solar push? Bondada has been building out its renewable EPC book through repeat Khavda-linked orders and adjacent subcontracting activity. (bseindia.com) In January, Pace Digitek disclosed a ₹3,757.25 million order from Bondada for BoS works on a 300 MW AC solar project, including supply, erection and commissioning under EPC mode and three years of operations and maintenance. (bseindia.com) Bondada’s own April 29 filing said a 75 MW Khavda BoS award had taken its cumulative executed Adani capacity to 725 MW. Less than three weeks later, the May 18 filing raised that figure to 975 MW. ### What comes next at Khavda? The May 18 filing sets the immediate milestone: Bondada said the 250 MW BoS package is to be executed within eight months of receipt of the order. (nsearchives.nseindia.com) The next public markers are likely to come through additional stock-exchange disclosures from Bondada or Adani project entities as package execution advances and more Khavda capacity is commissioned. (bseindia.com 1) (bseindia.com 2)