Rajesh Power, an arm of Rajesh Power Services Ltd, has signed a battery energy storage purchase agreement (BESPA) with state-run Gujarat Urja Vikas Nigam Ltd (GUVNL) for the development of a 65 MW/130 MWh standalone battery energy storage system (BESS) project at Virpore in Gujarat.
The agreement establishes the long-term framework for the development and operation of the battery storage facility and marks Rajesh Power’s formal entry into the utility-scale battery energy storage segment.
Under the BESPA, the project will operate under a 12-year agreement from the date of commissioning at a contracted tariff of INR 1.89 lakh per MW per month. The project involves a 65 MW battery system with a storage capacity of 130 MWh, capable of supplying power for up to two hours. It is expected to be commissioned within 18 months from the date of signing of the agreement.
The project was awarded to the company earlier this year through tariff-based competitive bidding under GUVNL’s Phase VII tender for setting up a standalone BESS, supported by viability gap funding (VGF) through the Power System Development Fund (PSDF).
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