RPSL subsidiary signs 65 MW BESS agreement with GUVNL
Author: PPD Team Date: March 10, 2026
Rajesh Power Projects Private Limited, a wholly owned subsidiary of Rajesh Power Services Limited (RPSL), 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. The agreement marks the company’s entry into the utility-scale energy storage segment.
The project was awarded through a Letter of Intent (LoI) issued by GUVNL, which was disclosed to the stock exchanges on January 5, 2026. The BESPA, executed on March 6, 2026, establishes the framework for the development and operation of the storage facility.
Under the agreement, the project will operate under a 12-year offtake arrangement from the date of commissioning at a contracted tariff of Rs 1.89 lakh per MW per month. The 65 MW system will have a storage capacity of 130 MWh and is designed to supply power for up to two hours. The project is targeted for commissioning within 18 months from the date of BESPA execution.
The project was awarded through tariff-based competitive bidding under GUVNL’s Request for Selection for Standalone BESS – Phase VII. It forms part of a broader programme to develop 2,000 MW / 4,000 MWh of BESS capacity across Gujarat. The project is supported by Viability Gap Funding (VGF) through the Power System Development Fund (PSDF). The company stated that the order is a domestic transaction received in the normal course of business and does not involve related parties.
To pursue opportunities in this segment, RPSL incorporated Rajesh Power Projects Private Limited on February 28, 2026, as a dedicated subsidiary to undertake BESS as well as transmission and distribution projects.
Kurang Panchal, Managing Director of RPSL, stated that the BESPA signing represents a key step for the company in the energy storage segment and highlighted the role of BESS in supporting grid flexibility and reliability as renewable energy capacity increases.
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