Ceigall India Limited has been selected to develop a 50 MW Standalone Battery Energy Storage System (BESS) in Punjab. Awarded by the Punjab State Power Corporation Limited (PSPCL), the project represents a significant step in the company’s expansion into the renewable energy infrastructure sector. The project carries an estimated cost of Rs. 125 Crore and involves a long-term supply agreement, strengthening the company’s project portfolio and future revenue stream.
Strategic Energy Infrastructure Project
Ceigall India Limited has officially been selected to set up a 50 MW Standalone Battery Energy Storage System (BESS) in the state of Punjab. The contract was awarded through a tariff-based global competitive bidding process conducted by Punjab State Power Corporation Limited (PSPCL). This project marks a notable diversification for the company into large-scale energy storage solutions.
Project Financials and Operational Scope
The total project cost is estimated at approximately Rs. 125 Crore. Under the terms of the agreement, Ceigall India will not only construct the plant but also operate and maintain it. The company will supply power under a long-term Battery Energy Storage Purchase Agreement (BESPA), which is set for a duration of 12 years following the Scheduled Commercial Operation Date.
Execution and Revenue Details
The project is characterized by a tariff rate of Rs. 2.99/KWh. The timeline for the development includes an 18-month work execution phase, ensuring that the infrastructure is readied according to strict project specifications. This long-term engagement provides the company with stable revenue visibility over the next decade as it plays a pivotal role in Punjab’s energy storage infrastructure.
Source: BSE
