Rajesh Power Arm Signs BESPA With GUVNL for Battery Storage

11 Mar 2026 CW Team

The BESPA covers development and deployment of battery energy storage capacity to support grid stability and renewable integration, according to the statement. The subsidiary will be responsible for engineering, procurement and commissioning and for ongoing operations, which is in line with industry practice for such projects. Contractual terms were not disclosed in the announcement and such arrangements commonly involve modular battery systems and standardised interfaces to enable rapid deployment and integration.

Battery storage is increasingly sought by utilities to manage variability from wind and solar and to defer transmission investment. Analysts view such agreements as likely to bolster order books and revenue visibility for engineering firms that secure long term utility contracts. Financial effects will depend on contract size and delivery schedules, and the broader market has been tracking developments in storage capacity as a gauge of momentum in the energy transition.

Rajesh Power said the project will proceed through customary regulatory and contracting milestones and will adhere to agreed timelines and performance standards. The company indicated it will update the market on material developments as required, reflecting standard disclosure practices for listed firms. The transaction highlights growing collaboration between private firms and state utilities on grid modernisation. Shareholders will watch for further regulatory approvals and implementation milestones that will determine the pace of revenue recognition.

Rajesh Power said a subsidiary has signed a battery energy storage project agreement (BESPA) with Gujarat Urja Vikas Nigam Limited (GUVNL), marking a step into utility scale storage for the state. The announcement prompted investor interest and the company reported gains in its share price following the filing. The company characterised the move as part of a wider push into infrastructure that supports renewable energy integration and grid resilience. The BESPA covers development and deployment of battery energy storage capacity to support grid stability and renewable integration, according to the statement. The subsidiary will be responsible for engineering, procurement and commissioning and for ongoing operations, which is in line with industry practice for such projects. Contractual terms were not disclosed in the announcement and such arrangements commonly involve modular battery systems and standardised interfaces to enable rapid deployment and integration. Battery storage is increasingly sought by utilities to manage variability from wind and solar and to defer transmission investment. Analysts view such agreements as likely to bolster order books and revenue visibility for engineering firms that secure long term utility contracts. Financial effects will depend on contract size and delivery schedules, and the broader market has been tracking developments in storage capacity as a gauge of momentum in the energy transition. Rajesh Power said the project will proceed through customary regulatory and contracting milestones and will adhere to agreed timelines and performance standards. The company indicated it will update the market on material developments as required, reflecting standard disclosure practices for listed firms. The transaction highlights growing collaboration between private firms and state utilities on grid modernisation. Shareholders will watch for further regulatory approvals and implementation milestones that will determine the pace of revenue recognition.

Real Estate

01 Apr 2026

Top White Tiles Texture Designs for Elegant Interiors

White interiors are often associated with simplicity, elegance, and timeless design. In many homes, white tiles help create this refined look because they reflect light and blend easily with different décor styles. Used in living rooms, kitchens, or bathrooms, they keep spaces feeling bright and open. Adding the right wall tile texture can introduce subtle depth and visual interest without overpowering the design. From soft finishes to gentle patterns, textured white tiles help create interiors that feel calm, balanced, and elegant.Why White Tile Textures Are Popular in Interior Design?One of..

Resources

01 Apr 2026

Brookfield India REIT Appoints Shashank Jain As CEO

Brookfield India Real Estate Trust (BIRET) has appointed Shashank Jain as Chief Executive Officer and Managing Director of the Manager of the REIT, effective July 1, 2026. Alok Aggarwal will continue in his role until June 30, 2026.Jain joins from PwC India, where he co-led the deals practice, and brings over 25 years of experience across real estate, private equity and mergers and acquisitions advisory.Ankur Gupta, Head of APAC and Middle East Real Estate at Brookfield Asset Management and Chairman on the Board of the Manager of BIRET, said, “Alok has been at the forefront of helping us bui..

Resources

01 Apr 2026

Captain Steel Launches TVC To Promote TMT Awareness

Captain Steel has launched a new television commercial aimed at educating consumers on the role of TMT rebars in ensuring structural strength, as part of a broader effort to address awareness gaps in the category.The campaign positions TMT rebars alongside cement, highlighting their complementary roles in construction—cement managing compressive load and rebars bearing tensile load. It urges homebuilders to apply equal consideration while selecting both materials.Featuring brand ambassador Sourav Ganguly and actor Parambrata Chattopadhyay, the film draws attention to consumer behaviour in ma..