Reliance Power (RPower) has announced a significant milestone in India's renewable energy sector through its subsidiary, Reliance NU Suntech Private Limited. The company has signed a 25-year Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI) for a groundbreaking solar power project integrated with battery storage.

Project Highlights

Asia's Largest Integrated Solar and Battery Project

Reliance NU Suntech is set to develop and commission what is being touted as Asia's largest single-location integrated solar and battery energy storage system. The project will deploy more than 1,700 MWp of installed solar generation capacity to achieve the contracted capacity of 930 MW.

Strategic Significance

This agreement marks a major step in India's transition to clean energy and strengthens Reliance Power's position in the green energy ecosystem. The project aligns with the nation's ambitious renewable energy targets and demonstrates the company's commitment to sustainable, low-cost energy solutions.

Competitive Edge

Reliance NU Suntech secured this project in December 2024 through SECI's Tranche XVII auction, winning the largest allocation in a competitive bidding process that involved five leading energy companies. The swift execution of the entire process, from reverse auction to PPA signing, was completed in less than five months, showcasing the company's operational excellence.

Financial Commitment

As part of the agreement, Reliance Power has submitted a Performance Bank Guarantee (PBG) of ₹378.00 crore to SECI, underlining its commitment to the project's successful implementation.

Company Background

Reliance Power Limited, a part of the Reliance Group, is a prominent player in India's private sector power generation. With an operating portfolio of 5,305 megawatts, including the world's largest integrated coal-based power plant (Sasan Power Limited), the company has consistently demonstrated its capability in the power sector.

This latest venture into large-scale renewable energy projects with integrated storage solutions positions Reliance Power at the forefront of India's clean energy transition, promising to deliver reliable and sustainable power for decades to come.

Reliance Power Limited (RPower) has announced a significant milestone in its renewable energy journey, with its subsidiary Reliance NU Suntech Private Limited signing a landmark 25-year Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI). This agreement marks a major step forward in India's transition to clean energy and solidifies RPower's position in the green energy sector. Following the announcement, the company's share price rose over 3%, reflecting positive market sentiment.

Project Highlights

Strategic Significance

The project represents one of the most significant long-term power offtake arrangements in India to date. To achieve the contracted capacity of 930 MW, Reliance NU Suntech plans to deploy more than 1,700 MWp of installed solar generation capacity. This strategic move aligns with India's ambitious renewable energy targets and strengthens Reliance Power's foothold in the country's evolving energy landscape.

Competitive Edge

Reliance NU Suntech secured this project in December 2023 through SECI's Tranche XVII auction, winning the largest allocation of 930 MW solar power capacity along with the BESS component. The company outperformed four other leading energy companies in a tariff-based competitive bidding process for a total of 2,000 MW of Inter-State Transmission System (ISTS)-connected solar projects and 1,000 MW/4,000 MWh of BESS capacity.

Swift Execution

Highlighting its operational excellence, Reliance Power completed the entire process - from reverse auction to signing the PPA - in less than five months. The company has also submitted a Performance Bank Guarantee (PBG) of ₹378.00 crore to SECI, underlining its commitment to the project.

Company Background

Reliance Power Limited, a part of the Reliance Group, is a prominent player in India's private sector power generation. With an operating portfolio of 5,305 megawatts, including the world's largest integrated coal-based power plant (Sasan Power Limited, 3,960 MW), the company has consistently demonstrated its capability in the power sector.

This latest venture into large-scale renewable energy projects showcases Reliance Power's strategic shift towards sustainable and low-cost energy solutions, positioning it at the forefront of India's clean energy transition. The positive market response, as evidenced by the rise in share price, indicates investor confidence in the company's renewable energy strategy and long-term growth prospects.