Reliance Power, led by Anil Ambani, has surged to a 52-week high, gaining over 15% on the Bombay Stock Exchange after securing a 350 MW solar and 175 MW/700 MWh battery energy storage system (BESS) project from Navratna PSU SJVN.
Key Highlights of the Project
- Major Renewable Energy Win: Reliance NU Energies, a subsidiary of Reliance Power, secured the project at a fixed tariff of ₹3.33/kWh for 25 years.
- Expanding Clean Energy Portfolio: The project will add 600 MW of solar DC capacity and 700 MWh of BESS, pushing Reliance Power’s total renewable pipeline to 2.4 GW of solar and 2.5 GWh of battery storage—the largest such capacity in India.
- Competitive Auction: The tender was oversubscribed four times, with 18 developers qualifying for the final auction, reflecting strong industry confidence in scalable green energy infrastructure.
Market Impact and Stock Performance
Reliance Power’s stock opened at ₹52.59, climbed to ₹60.50, and settled 11.35% higher at ₹58.16, boosting its market capitalization to ₹23,362.70 crore. The stock has gained 45% in May and 136.6% over the past year, delivering multi-bagger returns of 361.11% in three years and an astonishing 2,957.89% in five years.
Future Prospects
Backed by a high-profile PSU like SJVN, the project strengthens Reliance Power’s leadership in integrated solar and battery storage solutions. Analysts attribute the stock’s rise to strong investor interest in Anil Ambani’s aggressive pivot to clean energy, aligning with India’s decarbonization goals.
For more updates on India’s renewable energy sector, stay tuned!
