Coal India Secures ₹400 Crore BESS Plant Contract from GRIDCO
Coal India secured a contract from GRIDCO LIMITED for a 320 MWh (80 MW) BESS Plant. The estimated project cost is ₹400 Crore. Execution will take 18 months from BESPA signing. Tariffs are ₹3.04 lakh/MW/month and ₹3.05 lakh/MW/month for the two clusters.
The contract value of ₹400 Crore is significant and represents a new business opportunity, impacting the company's revenue and operational capacity in the energy storage sector.
The company has secured a new order with a substantial project cost, indicating business growth and expansion.
Coal India Limited has announced the bagging of a significant contract from GRIDCO LIMITED, Odisha. The contract involves the setting up of a 320 MWh (80 MW for 4 hours) Battery Energy Storage System (BESS) Plant in two clusters. Cluster-1, located at Padampur and Bolangir, will operate at a tariff of ₹3.04 lakh per MW per month. Cluster-2, situated at Bhatli and Basta, will have a tariff of ₹3.05 lakh per MW per month.
The estimated project cost for this 80 MW / 320 MWh capacity plant is ₹400 Crore. Coal India is required to submit the necessary documents as per the Letter of Award (LOA) within 20 days, followed by the signing of the Battery Energy Storage Purchase Agreement (BESPA). Coal India will also be responsible for submitting a Performance Bank Guarantee (PBG).
The execution of the contract is expected to be completed within 18 months from the signing of the BESPA. This order has been awarded by a domestic entity, and neither the promoter nor its group companies have any interest in GRIDCO LIMITED. The contract is not considered a related party transaction.
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Coal India Limited filed this with the NSE as a statutory disclosure, categorised under new orders. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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