EXECUTIVE SUMMARY
Ceigall India Limited has been selected by Punjab State Power Corporation Limited to develop a 100 MW standalone BESS project in Punjab under a tariff-based competitive bidding process. The project carries an estimated investment of Rs. 250 crore with a tariff of Rs. 3,44,000/MW/month under a 12-year Battery Energy Storage Purchase Agreement (BESPA). The award strengthens Ceigall India’s expansion into energy storage infrastructure as utilities in India increase deployment of standalone BESS assets for grid reliability and renewable integration.
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Ceigall India Limited has been selected to develop 100 MW standalone BESS project in Punjab under tariff-based global competitive bidding process conducted by Punjab State Power Corporation Limited. The project falls under PSPCL’s tender for 1,000 MWh battery energy storage capacity through an e-reverse auction process. Ceigall India Limited is entering into energy storage segment as utilities in India continue to expand grid-scale storage capacity to support renewable energy integration and grid reliability.
The project involves the establishment of a 100 MW battery energy storage plant in Punjab under a long-term Battery Energy Storage Purchase Agreement (BESPA). Under the agreement, the company will operate, maintain and supply storage services for a period of 12 years from the scheduled commercial operation date. The contract execution period has been fixed at 18 months, while the operational term extends for 12 years. The tariff approved for the project is Rs. 3,44,000/MW/Month and the estimated project cost is about Rs. 250 crore. Ceigall India stated that the order does not fall under related party transactions and confirmed that the promoter group has no interest in the awarding entity.
The project is expected to support Punjab’s efforts to strengthen grid flexibility and improve power management capabilities. Standalone BESS facilities are increasingly being deployed by state utilities to manage peak demand, balance renewable power generation and enhance grid stability. Under the BESPA structure, storage developers receive fixed tariff payments for maintaining battery storage capacity and making it available to the utility over the contract duration.
India’s battery storage market has seen increased activity over the past two years as central and state agencies issue large-scale tenders for standalone storage projects. Utilities are using battery systems to support renewable energy integration, reduce curtailment and improve power supply reliability. PSPCL’s 1,000 MWh tender is part of this broader transition toward flexible energy infrastructure. For Ceigall India, the project expands its portfolio beyond transportation and civil infrastructure into the energy storage sector, which is expected to see continued tender activity across multiple Indian states.