Reliance Power Ltd.RPOWER₹40.13 +0.35%

Reliance Power share surged over 3% during the after they announced the subsidiary Reliance NU Suntech Private Limited, has signed a 25-year Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI) for the supply of 930 MW of solar power integrated with a 465 MW/1,860 MWh Battery Energy Storage System (BESS), at a fixed tariff of ₹3.53 per kWh.

The company will invest up to ₹10,000 crore to develop what is stated to be Asia’s largest integrated solar and BESS project at a single location. The project is scheduled to be commissioned within 24 months.

Reliance NU Suntech was awarded the project in SECI’s Tranche XVII auction held in December 2024. The allocation was part of a competitive bidding process involving 2,000 MW of solar capacity and 1,000 MW/4,000 MWh of BESS capacity.

To deliver the contracted 930 MW output, the project will deploy over 1,700 MWp of installed solar generation capacity. A Performance Bank Guarantee of ₹378 crore has been submitted to SECI. The reverse auction, Letter of Award (LoA), and PPA signing were completed in less than five months.

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Registered office – 2, Floor 3, Wing A, Block A, Salarpuria Softzone, Service Road, Green Glen Layout, Bellandur, Bengaluru South, Bengaluru, Karnataka – 560103, INDIA.

CIN: U65990KA2021PTC146954.