Ceigall India Limited has been selected by Punjab State Power Corporation Limited (PSPCL) to develop a 100 MW Standalone Battery Energy Storage System (BESS) in Punjab. This strategic project involves a long-term 12-year Battery Energy Storage Purchase Agreement. The contract, won through a competitive e-reverse auction process, includes an estimated project cost of Rs. 250 crore and represents a significant expansion into the renewable energy storage sector for the company.
Strategic Project Win
Ceigall India Limited (CIL) has announced a significant milestone in its renewable energy infrastructure portfolio. The company has been selected by Punjab State Power Corporation Limited (PSPCL) to set up a 100 MW Standalone Battery Energy Storage System. This project was awarded following a Tariff-Based Global Competitive Bidding process, highlighting the company’s competitive capabilities in the power storage market.
Contract Details and Financials
The project is structured under a long-term Battery Energy Storage Purchase Agreement (BESPA) with a duration of 12 years from the scheduled commercial operation date. The financial terms include a tariff of Rs. 3,44,000 per MW/month, with a total estimated project cost of approximately Rs. 250 crore. This arrangement ensures steady operational revenue for the company over the long term.
Execution Timeline
The project is set for a rigorous implementation schedule. The work execution phase is slated for 18 months. Upon completion of the construction and setup, the company will enter the 12-year operational period, ensuring consistent delivery of energy storage services to the utility provider.
Source: BSE
