Rajesh Power Projects Private Limited, a wholly owned subsidiary of Rajesh Power Services 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.
The project will operate under a 12-year agreement from the date of commissioning at a contracted tariff of Rs 0.189 million per MW per month. It is expected to be commissioned within 18 months of the signing of the agreement. The project was awarded to the company earlier this year under tariff-based competitive bidding as part of GUVNL’s phase VII standalone BESS selection round with viability gap funding support through the power system development fund.