Reliance Power shares soared over 10% on Monday after its subsidiary, Reliance NU Energies, emerged as the top bidder in SJVN’s competitive bidding process for Inter-State Transmission System (ISTS)-connected solar and battery storage projects.
The company secured a 350 MW solar generation capacity along with a 175 MW/700 MWh Battery Energy Storage System (BESS) under the tariff-based tender. The project was won at a discovered tariff of ₹3.33 per kWh, fixed for 25 years, making it one of India’s most cost-effective renewable offerings.
Key Highlights of the Project
- Largest Allocation in SJVN’s Tender – Reliance NU Energies secured the biggest share in the 1,200 MW solar + 600 MW/2,400 MWh BESS tender floated by SJVN, which saw participation from 19 entities and was oversubscribed more than four times.
- Boost to Renewable Portfolio – Once commissioned, the platform will contribute 600 MWp solar PV and 700 MWh of storage, strengthening Reliance Power’s clean energy pipeline, which now stands at 2.5 GWp of solar and over 2.5 GWh of energy storage.
- Strategic Energy Supply – The awarded project mandates a minimum four-hour daily discharge window, ensuring peak power supply to state distribution utilities (Discoms).
Reliance Power’s Expansion in Renewable Energy
Separately, Reliance NU Suntech Private Limited, another 100% subsidiary, has signed a 25-year Power Purchase Agreement (PPA) with SECI for Asia’s largest integrated Solar + BESS project. This project will feature 930 MW of solar capacity and 465 MW/1860 MWh of BESS, with a total investment of ₹10,000 crore.
At 9:45 AM, Reliance Power shares were up 9.44% at ₹42.6, tracking a broader market rally, as Sensex surged 2.45%.
