Coal India Limited has informed the Exchange about Bagging/Receiving of orders/contracts
COALINDIA · price
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Coal India Limited (CIL) has received a Letter of Award (LOA) from GRIDCO Limited, Odisha, for setting up a 320 MWh Battery Energy Storage System (BESS) plant (80 MW capacity for 4 hours) in two clusters. Cluster-1 at Padampur and Bolangir will operate at Rs. 3.04 lakh/MW/Month tariff, while Cluster-2 at Bhatli and Basta will operate at Rs. 3.05 lakh/MW/Month tariff. The project has an estimated cost of Rs. 400 crore and is to be executed within 18 months from the signing of the BESPA (Battery Energy Storage Purchase Agreement). CIL needs to submit required documents within 20 days and provide a Performance Bank Guarantee (PBG). The order is entirely domestic and does not involve any related party or promoter group interest.
This order marks Coal India's entry into the battery storage segment, diversifying its portfolio beyond coal. At Rs. 400 crore, the contract is small relative to CIL's annual revenue, so limited direct financial impact, but signals strategic expansion into renewable energy infrastructure.