The country’s leading government company Coal India Limited has achieved great achievements in the clean energy sector by moving beyond the traditional coal business. The company has received a battery energy storage project worth ₹1,057 crore from Telangana Power Generation Corporation (GENCO), which is considered an important step towards India’s energy transition.
The project will be set up at Choutuppal in Telangana, with a total capacity of 750 megawatt-hour (MWh). This means that this system will be able to supply 187.5 MW electricity continuously for four hours. Such battery energy storage systems (BESS) store electricity and supply it when needed, thereby increasing the stability and reliability of the grid.
Coal India has received the Letter of Award (LoA) for this project. According to the company, the project will be completed within 18 months after the signing of the Battery Energy Storage Purchase Agreement (BESPA). Under the agreement, the company will provide power at a tariff of ₹3.14 lakh per MW per month. Also, the Performance Bank Guarantee and necessary documents will have to be submitted within 15 days, after which the final agreement will be signed.
This deal represents a major change in the strategic direction of Coal India. The company, which was dependent on coal mining till now, is now strengthening its presence in areas like renewable energy and energy storage. This step is being considered helpful in taking India towards clean and sustainable energy.
The company has clarified that this order has been received from a domestic entity and does not involve any related party transaction. Its positive effect has been seen in the stock market also. The company’s shares closed at ₹445.10 before the announcement, and are up about 14.63% in the last six months. This project not only gives a new direction to Coal India’s business model, but also lays the foundation for its strong role in future energy solutions.
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