New Delhi: Reliance Power shares jumped over 10 per cent on Monday after its subsidiary Reliance NU Energies secured a major clean energy project from SJVN. The company emerged as the top bidder for a solar and battery energy storage system (BESS) project connected to the Inter-State Transmission System (ISTS), strengthening its renewable portfolio.
The win includes 350 MW of solar capacity and a 175 MW/700 MWh battery storage system. The tariff has been fixed at ₹3.33 per kWh for 25 years, making it one of the most competitively priced renewable energy offerings in the country.
With this, Reliance Power’s total clean energy pipeline stands at 2.5 GWp of solar and over 2.5 GWh of storage. The new project will add 600 MWp solar PV and 700 MWh of BESS once commissioned.
The SJVN tender attracted 19 participants and was oversubscribed by over four times. Eighteen bidders qualified for the reverse auction held under the Build-Own-Operate model, with a mandatory four-hour daily discharge requirement to support discoms during peak demand.
In a separate development, Reliance NU Suntech Private Limited, another wholly owned arm, has signed a 25-year power purchase agreement with SECI for what is being described as Asia’s largest integrated Solar + BESS project. The plan involves 930 MW of solar and 465 MW/1860 MWh of battery storage, with an investment of ₹10,000 crore. The electricity will be sold at ₹3.53 per kWh.
BI Bureau
