Coal India Limited Secures ₹400 Crore Battery Energy Storage Project in Odisha

Maharatna PSU Coal India Limited (CIL) (BSE: 533278, NSE: COALINDIA) has announced a significant diversification into the renewable energy infrastructure space. The company has received a Letter of Award (LOA) from GRIDCO Limited, Odisha, for the establishment of a large-scale Battery Energy Storage System (BESS).

This project marks a strategic pivot for the coal giant as it expands its footprint into advanced energy storage solutions to support grid stability and renewable integration.

Project Scope and Specifications

The contract involves the setting up of a 320 MWh (80 MW for 4 hours) Battery Energy Storage Plant. The project is divided into two distinct clusters across Odisha:

Cluster-1: Located at Padampur and Bolangir, with a tariff rate of ₹3.04 lakh per MW per month.

Cluster-2: Located at Bhatli and Basta, with a tariff rate of ₹3.05 lakh per MW per month.

Financial and Timeline Details

Estimated Project Cost: Approximately ₹400 Crores.

Execution Period: The project is slated for completion within 18 months from the date of signing the Battery Energy Storage Purchase Agreement (BESPA).

Total Capacity: 80 MW / 320 MWh.

Key Terms and Conditions

The award of this contract to a domestic entity like Coal India underscores the company's evolving role in India's energy transition. By venturing into BESS, CIL is leveraging its capital and project management expertise to address the intermittency challenges of renewable energy.

Shares of Coal India Limited was last trading in BSE at Rs. 479.65 as compared to the previous close of Rs. 466.95. The total number of shares traded during the day was 1184947 in over 15806 trades.

The stock hit an intraday high of Rs. 485.60 and intraday low of 464.15. The net turnover during the day was Rs. 568771832.00.