News Orders & Deals Rajesh Power Subsidiary Signs BESPA With GUVNL For 65 MW Battery Storage ProjectRajesh Power Subsidiary Signs BESPA With GUVNL For 65 MW Battery Storage Project
Rajesh Power Projects Private Limited, wholly-owned subsidiary of Rajesh Power Services, has signed a Battery Energy Storage Purchase Agreement with GUVNL for a 65 MW/130 MWh standalone BESS project at Virpore, Gujarat. The 12-year agreement operates at ₹1.89 lakh per MW monthly tariff with 18-month commissioning timeline, marking the company's strategic entry into utility-scale battery storage segment.
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Rajesh Power Services has announced that its wholly-owned subsidiary, Rajesh Power Projects Private Limited, has signed a Battery Energy Storage Purchase Agreement (BESPA) with Gujarat Urja Vikas Nigam Limited (GUVNL) for the development of a 65 MW / 130 MWh standalone Battery Energy Storage System (BESS) project at Virpore in Gujarat.
Project Specifications and Commercial Terms
The battery storage project encompasses substantial capacity specifications with defined commercial parameters for long-term operations.
| Parameter: | Details |
|---|---|
| Power Capacity: | 65 MW |
| Energy Storage: | 130 MWh |
| Location: | Virpore, Gujarat |
| Contract Duration: | 12 years from commissioning |
| Monthly Tariff: | ₹1.89 lakh per MW |
| Commissioning Timeline: | 18 months from agreement date |
Strategic Market Entry
The BESPA marks Rajesh Power Services' formal entry into the utility-scale battery energy storage segment through its subsidiary. The project was awarded under tariff-based competitive bidding as part of GUVNL's 'Request for Selection for setting up of Standalone BESS – Phase VII', supported by Viability Gap Funding (VGF) through the Power System Development Fund (PSDF).
Management Commentary
Commenting on the development, Mr. Kurang Panchal, Managing Director of Rajesh Power Services Limited, stated that the signing of the BESPA with GUVNL marks an important milestone as the company enters the utility-scale battery storage segment. He emphasized that as renewable energy capacity continues to grow, battery energy storage systems will play a critical role in ensuring grid flexibility and reliability.
Market Context and Impact
Standalone battery storage systems are increasingly being adopted by utilities to support renewable energy integration and enhance grid flexibility. The 65 MW system with 130 MWh capacity can supply power for up to two hours, helping manage intermittency and strengthen grid stability. Gujarat has emerged as one of the leading states in deploying grid-scale battery storage, with GUVNL initiating multiple phases of BESS procurement to complement the state's expanding renewable energy capacity.
Historical Stock Returns for Rajesh Power Services
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +2.25% | +0.54% | -0.38% | -36.00% | +9.47% | +36.17% |
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