Oriana Power Limited has received two Letters of Award (LOAs) from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for setting up an aggregate 900 MW/1,800 MWh Battery Energy Storage System (BESS) capacity in Maharashtra.
The LOAs, dated September 18, 2026, cover 500 MW/1,000 MWh of BESS at MSETCL substations and 400 MW/800 MWh at MSEDCL substations. The projects were awarded through tariff-based global competitive bidding with Viability Gap Funding (VGF) support under the Power System Development Fund (PSDF) scheme.
The 500 MW/1,000 MWh project carries a tariff of ₹2.38 lakh per MW per month, while the 400 MW/800 MWh project has a tariff of ₹2.40 lakh per MW per month.
The aggregate consideration from the two awards over their respective 15-year Battery Energy Storage Purchase Agreement (BESPA) terms is estimated at ₹3,870 crore, excluding GST. This comprises ₹2,142 crore for the 500 MW/1,000 MWh award and ₹1,728 crore for the 400 MW/800 MWh award.
Oriana Power has been awarded 900 MW/1,800 MWh out of the 2,000 MW/4,000 MWh capacity tendered by MSEDCL. The company expects viability gap funding of around ₹324 crore based on the current estimated project cost.
The BESPA for each project will remain valid for 15 years from its respective commercial operation date. The scheduled commissioning dates will be determined in accordance with the respective BESPAs, which are yet to be executed.