In a major boost for Anil Ambani’s Reliance Power, its subsidiary Reliance NU Energies has won the largest allocation in SJVN’s tariff-based competitive bidding process, securing a 350 MW solar power project integrated with a 175 MW/700 MWh battery energy storage system (BESS).
Key Highlights of the Project
- Largest Individual Allocation: Reliance NU Energies secured the biggest share out of the five companies competing for a total capacity of 2,000 MW.
- Winning Tariff: The project will operate at a fixed tariff of ₹3.33 per kWh for 25 years, making it one of the most competitively priced clean energy initiatives in India.
- Expansion of Clean Energy Portfolio: Once commissioned, the project will add 600 MWp of installed solar PV capacity and 700 MWh of energy storage, consolidating Reliance Power’s leadership in new energy solutions.
Reliance Power’s Strategic Pivot Toward Renewables
- Asia’s Largest Solar-BESS Project: Reliance NU Suntech, another subsidiary, recently signed a 25-year Power Purchase Agreement (PPA) with SECI to develop a 930 MW solar power project paired with 465 MW/1,860 MWh BESS, with an investment of ₹10,000 crore.
- Market Impact: Following the announcement, Reliance Power shares surged by 11%, reflecting strong investor confidence in the company’s renewable energy expansion.
Future Outlook & Industry Impact
With this landmark allocation, Reliance Power is set to strengthen its position as India’s largest player in the integrated Solar + BESS segment. The project aligns with India’s push for sustainable energy, reinforcing its commitment to reducing carbon emissions and enhancing grid reliability.
Stay tuned for more updates on India’s renewable energy sector and corporate developments! 🚀
