Rajesh Power Services Ltd Share Price – BSE

Infrastructure Developers & Operators, Small Cap

The project involves developing a 65 MW / 130 MWh standalone Battery Energy Storage System at Virpore, Gujarat.

The agreement sets a 12-year operational framework at a contracted tariff of Rs 1.89 lakh per MW per month and marks Rajesh Power?s formal entry into the utility-scale battery energy storage segment.

The project, expected to be commissioned within 18 months, will store electricity for up to two hours, supporting renewable energy integration, enhancing grid flexibility, and optimizing power procurement. Gujarat is emerging as a leader in grid-scale battery storage, with multiple phases of procurement initiated by GUVNL to complement the state?s expanding renewable energy capacity.

Kurang Panchal, MD, Rajesh Power Services, said, ?The signing of the BESPA with GUVNL marks an important milestone for Rajesh Power as we enter the utility-scale battery storage segment. As renewable energy capacity continues to grow, battery energy storage systems will play a critical role in ensuring grid flexibility and reliability. This project reflects our commitment to supporting India?s evolving power infrastructure through high-quality execution and long-term operational capability.?

Rajesh Power Services provides consultancy to state transmission and distribution companies, private utilities, and industries.

On a full-year basis, the company?s standalone net profit surged 233.9% to Rs 86.88 crore, driven by a 276.2% rise in revenue from operations to Rs 1,072.07 crore in FY25 compared with FY24.

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Rajesh Power Projects, a wholly-owned subsidiary of Rajesh Power Services (RPSL), has signed a Battery Energy Storage Purchase Agreement (BESPA) with state-run Gujarat Urja Vikas Nigam (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 Rs 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 under tariff-based competitive bidding as part of GUVNL's 'Request for Selection for setting up of Standalone BESS - Phase VII', supported by Viability Gap Funding (VGF) through the Power System Development Fund (PSDF).

Standalone battery storage systems are increasingly being adopted by utilities to support renewable energy integration and enhance grid flexibility. By storing electricity during periods of surplus generation and supplying it during peak demand, such systems help manage intermittency, strengthen grid stability and optimize power procurement. Gujarat has emerged as one of the leading states in deploying grid-scale battery storage, with GUVNL initiating multiple phases of BESS procurement to complement the state's expanding renewable energy capacity.

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Rajesh Power Services has received a lowest bid confirmation at the L1 Stage, for the works of construction of 132/33 KV, 2x50 MVA GIS Substation at Hathi Bhata (Ajmer) along with Associated Transmission Lines Including Survey, Supply of All Equipment/Materials, Erection (Including Civil Works), Testing and Commissioning from Rajasthan Rajya Vidyut Prasaran Nigam (RRVPN), Jaipur. Declaration as a Successful Bidder is subject to getting final confirmation of Bid from RRVPN. The project is to be executed within a period of 18 months from the date of commencement.

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Rajesh Power Services has received Letter of Intent from Gujarat Urja Vikas Nigam (GUVNL) for the development of 65 MW / 130 MWh Standalone Battery Energy Storage System (BESS) at Virpore in Gujarat under Tariff-Based Competitive Bidding (Phase -VII) with Viability Gap Funding supported through Power System Development Fund (PSDF).

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