Masterstroke by Anil Ambani, Reliance power announces mega investment deal of Rs 10000 crore to develop massive…, to be Asia’s largest…
Anil Ambani-owned Reliance Power’s subsidiary, Reliance New Energy Suntech, has signed a 25-year Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI). The company shared this update in a stock exchange filing on Friday. As part of the agreement, Reliance will supply 930 MW of solar power along with a 465 MW/1860 MWh Battery Energy Storage System (BESS). This makes it the largest single-location solar-plus-storage project in all of Asia.
Following the news, Reliance Power’s shares saw a jump of over 3 per cent on Friday, trading at Rs. 41.31 on the Bombay Stock Exchange (BSE).
Reliance power to invest Rs. 10,000 crore in Asia’s largest solar-storage project
Reliance New Energy Suntech, a subsidiary of Anil Ambani-led Reliance Power, is set to invest up to Rs. 10,000 crore over the next 24 months to develop a massive solar-plus-battery energy storage project. The project includes 930 MW of contracted solar power supply, supported by a 465 MW/1860 MWh Battery Energy Storage System (BESS). Power will be delivered at a fixed tariff of Rs. 3.53 per kWh.
To meet this capacity, the company will install over 1700 MWp of solar generation capacity. Reliance Power has already submitted a performance bank guarantee of Rs. 378 crore to the Solar Energy Corporation of India (SECI).
Reliance power shares soar over 1600 per cent in 5 years
Reliance Power’s stock has seen a sharp rally in the last few years. From trading at just Rs. 2.38 on April 30, 2020, the stock climbed to Rs. 41.31 by May 2, 2025 — marking a massive gain of 1,630 per cent in five years.
Here’s a look at the stock performance:
- 4 years: +750 per cent
- 3 years: +190 per cent
- 2 years: +240 per cent
- 1 year: +53 per cent
The 52-week high for Reliance Power stock is Rs. 54.25, while the 52-week low stands at Rs. 23.26.
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