Masterstroke by Anil Ambani, Reliance Power to Invest Rs 100000000000 in Asia’s Largest…, will supply…

Anil Ambani’s Reliance NU Suntech, a subsidiary of Reliance Power, has announced a Rs 10,000 crore investment to develop Asia’s largest single-location solar and battery energy storage system (BESS) project. It will help India to improve its green energy resources.

Reliance NU Suntech has signed a 25-year Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI). This agreement gives gurantee of supply of 930 MW of solar power integrated with a 465 MW/1,860 MWh BESS. The project, developed over the next 24 months, will deliver power at a fixed tariff of Rs 3.53 per kilowatt-hour (kWh).

To meet the 930 MW contracted capacity, the project will deploy over 1,700 MWp of solar generation capacity along with advanced energy storage systems made for grid stability and reliability.

SECI’s Tranche XVII conducted an auction in December 2024 for the project. Where Reliance NU Suntech became the largest allocation in the bid as compared to other five energy bidders. The competitive process sought bids for 2,000 MW of solar and 1,000 MW/4,000 MWh of BESS capacity.

Reliance Power completed the auction requirements in fastest speed by submitting Rs 378 crore Performance Bank Guarantee (PBG) to SECI. 

“This project is a strategic milestone for us and a strong reaffirmation of our commitment to India’s clean energy transition,” Reliance Power said in a statement. The company also stated that the project will contribute to India’s renewable energy targets and strengthen the country’s energy storage infrastructure.

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