Rajesh Power Projects signs BESPA with GUVNL for 65 MW/130 MWh battery storage project in Gujarat

Rajesh Power Projects has announced the signing of a Battery Energy Storage Purchase Agreement (BESPA) with Gujarat Urja Vikas Nigam Ltd (GUVNL) for a 65 MW/130 MWh standalone battery energy storage system (BESS) project in Virpore, Gujarat, India. This 12-year agreement, at a contracted tariff of INR 1.89 lakh per MW per month, represents a significant commitment by GUVNL to enhance grid stability and by Rajesh Power Projects to expand its footprint in the burgeoning energy storage sector. The deal is notable for its substantial capacity, positioning it as a key infrastructure project within India's energy transition. The long-term BESPA provides revenue certainty for Rajesh Power Projects and ensures a reliable, dispatchable energy asset for GUVNL, a critical factor for managing grid fluctuations and integrating intermittent renewable energy sources. The specific tariff and 12-year term underscore the economic framework and long-term strategic value placed on such storage solutions. This project underscores the increasing focus on standalone battery energy storage solutions in India. As the country continues to expand its renewable energy capacity, the demand for flexible and reliable grid support, such as that provided by BESS, is growing. This agreement between Rajesh Power Projects and GUVNL reflects a proactive approach to addressing these evolving energy infrastructure needs.