Press Release of Receipt of Letter of Intent for Standalone Battery Energy Storage System (BESS) from Gujarat Urja Vikas Nigam Limited (GUVNL).
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Rajesh Power Services Ltd (RPSL) has received a Letter of Intent (LoI) from Gujarat Urja Vikas Nigam Limited (GUVNL) for a 65 MW / 130 MWh standalone Battery Energy Storage System (BESS) project to be set up at Virpore, Gujarat. The project was awarded through tariff-based competitive bidding and will receive Viability Gap Funding support from the Power System Development Fund (PSDF). Execution is expected within 18 months of signing the Battery Energy Storage Purchase Agreement (BESPA). This marks RPSL's entry into utility-scale battery energy storage, expanding from its core power transmission and distribution EPC business. The project is part of Gujarat's broader plan to develop 2,000 MW / 4,000 MWh of battery storage capacity across the state.
This is a strategically significant order for RPSL as it marks its entry into the high-growth battery energy storage segment on a Build, Own and Operate basis, potentially diversifying revenue and creating long-term recurring income streams. The state-government backing through GUVNL and PSDF funding reduces execution risk and adds credibility for future BESS tenders.