Coal India Limited has been awarded a significant contract by Telangana Power Generation Corporation Limited for the development of a 750 MWh Battery Energy Storage System (BESS) plant at Choutuppal. The project, which involves setting up a 187.5 MW capacity for four hours, is valued at an estimated ₹1,057.09 crore.
The contract terms stipulate that Coal India must submit the necessary documents as per the Letter of Award (LOA) within 15 days, followed by the signing of the Battery Energy Storage Purchase Agreement (BESPA). Additionally, Coal India is required to submit a Performance Bank Guarantee (PBG) as part of the contract obligations.
The order, awarded by a domestic entity, is expected to be executed within 18 months from the signing of the BESPA. The tariff for the project is set at ₹3.14 lakh per MW per month.
There is no involvement of the promoter group or related party transactions in this contract, ensuring that the deal is conducted at arm’s length.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).