Infrastructure Order Win
Ceigall India Selected for 50 MW Battery Energy Storage System Project in Punjab
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Ceigall India Limited has been selected by Punjab State Power Corporation Limited (PSPCL) for setting up a 50 MW Standalone Battery Energy Storage System (BESS) project in Punjab under tariff-based competitive bidding. The project includes long-term operational support through a 12-year Battery Energy Storage Purchase Agreement (BESPA).
PRICE-SENSITIVE TRIGGER
Event: Selection for Battery Energy Storage Project
Type: Infrastructure Order Win
Impact: Positive
Immediate Effect: The project expands Ceigall India’s renewable energy and energy storage portfolio while strengthening its participation in India’s growing grid-scale battery infrastructure sector.
Key Metrics:
- Project Capacity: 50 MW BESS
- Estimated Project Cost: Approx. ₹125 Crore
- Tariff Amount: ₹2.99 per kWh
- Operational Agreement Tenure: 12 Years
- Execution Timeline: 18 Months
Highlight:
- Label: Estimated Project Cost
- Value: Approx. ₹125 Crore
What Happened ?
Ceigall India Limited informed exchanges that it has been selected for setting up a 50 MW Standalone Battery Energy Storage System project in Punjab.
The project has been awarded by Punjab State Power Corporation Limited (PSPCL) 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) with a 12-year operational period from the scheduled commercial operation date.
key highlights
BESS Project Award:
- Ceigall India was selected for a 50 MW standalone BESS project in Punjab.
- Project awarded by Punjab State Power Corporation Limited (PSPCL).
- Selection completed through tariff-based global competitive bidding and e-reverse auction.
- Project includes setup, operation, maintenance, and supply obligations.
- BESPA agreement tenure is 12 years from scheduled commissioning date.
- Execution timeline for the project is 18 months.
- Tariff amount fixed at ₹2.99 per kWh.
- Estimated project cost is around ₹125 crore.
Note:
- The project further strengthens Ceigall India’s positioning in battery storage and renewable energy infrastructure development.
Risk Analysis
Key Risks
- BESS projects involve technology integration and operational efficiency risks.
- Delay in commissioning may impact project returns and contractual timelines.
- Long-term maintenance obligations may affect operating margins.
- Regulatory changes in power tariffs or energy storage policies may impact profitability.
Worst Case Scenario
- Cost overruns, delays in commissioning, or lower-than-expected operational efficiency could impact returns from the project and future competitiveness in the energy storage segment.
Risk Level: Medium
Company Commentary
- Ceigall India confirmed receipt of communication from PSPCL regarding project selection.
- Management highlighted the tariff-based Battery Energy Storage Purchase Agreement framework.
- The company emphasized its continued expansion into energy storage infrastructure.
- Ceigall stated that detailed disclosures are available on its website and exchange filings.
Official Exchange Filing: Ceigall Limited