Ceigall India Limited has been awarded a significant contract by Punjab State Power Corporation Limited (PSPCL) for the establishment of a 50 MW Standalone Battery Energy Storage System (BESS) in Punjab. The project was secured through a Tariff-Based Global Competitive Bidding process via an E-Reverse Auction.
The contract, valued at approximately ₹125 crore, involves setting up the battery storage plant, operating, maintaining, and supplying power for a duration of 12 years under a long-term Battery Energy Storage Purchase Agreement (BESPA). The agreed tariff amount is ₹2.99 per KWh.
The contract specifies that the work execution period is 18 months, followed by a 12-year operational period from the scheduled commissioning date. The award of this domestic contract underscores Ceigall India‘s growing footprint in the energy storage sector.
Ceigall India confirmed that neither the promoter group nor any group companies have any interest in PSPCL, and the contract does not fall under related party transactions.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).