New Delhi, March 29: Coal India Limited (CIL) announced on Sunday that it has received a Letter of Award from Telangana Power Generation Corporation Limited for a significant Battery Energy Storage System (BESS) project. This initiative is seen as a crucial step in the company’s expansion into the clean energy sector.
The project will be established in Choutuppal, Telangana, featuring a battery energy storage system with a capacity of 750 megawatt-hours. It will have a power capacity of 187.5 megawatts, capable of supplying electricity for four hours.
The estimated cost of this project is ₹1,057.09 crore. According to the company’s regulatory filing, the project is expected to be completed within 18 months of signing the Battery Energy Storage Purchase Agreement.
Under the agreement, CIL will supply electricity at a rate of ₹3.14 lakh per megawatt per month. Additionally, the company must submit a performance bank guarantee and other necessary documents within 15 days, after which the formal contract will be signed.
CIL clarified that this contract has been awarded by a domestic entity and does not involve any related party transactions.
This project underscores Coal India Limited’s commitment to strengthening its presence in the renewable and clean energy sectors, moving beyond its traditional coal business.
In the stock market, the company’s shares closed up 0.32 percent at ₹445.10 on Friday. Over the past six months, the stock has gained more than 14 percent, while year-over-year, it has increased by 11.15 percent (₹44.65).
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