Infrastructure Order Win
Ceigall India Selected for 100 MW Battery Energy Storage System Project in Punjab
NSE
ceigall
BSE
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Ceigall India Limited has been selected by Punjab State Power Corporation Limited (PSPCL) for setting up a 100 MW Standalone Battery Energy Storage System (BESS) project in Punjab under a tariff-based competitive bidding process. The project includes long-term operational support under a 12-year Battery Energy Storage Purchase Agreement (BESPA).
PRICE-SENSITIVE TRIGGER
Event: Selection for BESS Project
Type: Infrastructure Order Win
Impact: Positive
Immediate Effect: The project strengthens Ceigall India’s presence in the energy infrastructure and battery storage segment while expanding its order pipeline in clean energy projects.
Key Metrics:
- Project Capacity: 100 MW Battery Energy Storage System (BESS)
- Project Cost: Approx. ₹250 Crore
- Tariff Amount: ₹3,44,000 per MW per month
- Operational Agreement Period: 12 Years
- Execution Timeline: 18 Months
Highlight:
- Label: Estimated Project Cost
- Value: Approx. ₹250 Crore
What Happened ?
Ceigall India Limited informed exchanges that it has received communication from Punjab State Power Corporation Limited (PSPCL) confirming its selection for setting up a 100 MW Standalone Battery Energy Storage System project in Punjab.
The project was awarded under tariff-based global competitive bidding through an e-reverse auction process. The scope includes setting up, operating, maintaining, and supplying power under a long-term Battery Energy Storage Purchase Agreement (BESPA).
The project includes an 18-month execution timeline followed by a 12-year operational period from the scheduled commissioning date.
key highlights
BESS Project Award:
- Ceigall India was selected for a 100 MW standalone Battery Energy Storage System project in Punjab.
- Project awarded by Punjab State Power Corporation Limited (PSPCL).
- Award received under tariff-based global competitive bidding via e-reverse auction.
- Project includes setup, operation, maintenance, and power supply obligations.
- BESPA agreement tenure is 12 years from scheduled commercial operation date.
- Tariff amount fixed at ₹3,44,000 per MW per month.
- Estimated project cost is approximately ₹250 crore.
- Project execution period is 18 months.
Note:
- The order strengthens Ceigall India’s diversification into renewable and energy storage infrastructure projects.
Risk Analysis
Key Risks
- Battery storage projects involve technology integration and execution challenges.
- Delays in commissioning may impact project economics and operational timelines.
- Long-term operational commitments over 12 years may expose the company to maintenance and efficiency risks.
- Regulatory or tariff policy changes in the power sector may impact returns.
Worst Case Scenario
- Project delays, technology performance issues, or cost overruns could reduce profitability and affect execution credibility in future energy storage projects.
Risk Level: Medium
Company Commentary
- Ceigall India confirmed its selection through PSPCL’s tariff-based competitive bidding process.
- The company highlighted the long-term BESPA framework linked to the project.
- Management emphasized the strategic expansion into energy storage infrastructure.
- The company stated that the project details are available on its website and exchange filings.
Official Exchange Filing: Ceigall Limited