Reliance NU Suntech secured this allocation through SECI’s Tranche XVII auction in December 2024, outcompeting four other energy companies
| Photo Credit:
AMIT DAVE

Reliance Power Limited announced today that its subsidiary, Reliance NU Suntech Private Limited, has signed a 25-year Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI) to develop Asia’s largest integrated solar and battery energy storage system.

The shares of Reliance Power Limited were trading at ₹40.66 up by ₹0.67 or 1.68 per cent on the NSE today at 9.40 am.

The project, requiring an investment of up to ₹10,000 crore, will deliver 930 MW of solar power with a 465 MW/1,860 MWh battery energy storage system at a fixed tariff of ₹3.53 per kilowatt-hour, according to the company’s stock exchange filing.

To meet the contracted capacity, Reliance NU Suntech will install more than 1,700 MWp of solar generation capacity. The company expects to complete the project within 24 months.

In December 2024, Reliance NU Suntech secured this allocation through SECI’s Tranche XVII auction, outcompeting four other energy companies. The bidding process from auction to PPA signing was completed in less than five months, with Reliance Power submitting a ₹378 crore Performance Bank Guarantee.

This agreement represents a significant milestone in India’s transition to renewable energy and strengthens Reliance Power’s position in the country’s green energy sector.

Reliance Power Limited, part of the Reliance Group, currently operates a portfolio of 5,305 megawatts, which includes the 3,960 megawatt Sasan Power Limited plant, consistently ranked as India’s best operating power plant for the past seven years.

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Published on May 2, 2025