This is good news for Anil Ambani, as his company can get 350 MW of solar energy from…, storage projects; stock over 11 PCs
The project is part of the tender for the larger 1,200 MW solar and 600 MW/2,400 MWH BESS ISTS connection.
Reliance Group Chairman Anil Ambani appears to be making a comeback. Now, his power-dependent subsidiary has obtained a new project. Reliance NU Energies has obtained a 350 MW solar project through a competitive bidding process through the on-site mint report, which is synthesized with a 175 MW/700 MWH battery energy storage system (BESS). Reliance Power said in a statement Monday that the project will add 600 MWP of solar PV capacity and 700 MWH of storage space, thereby increasing Reliance Power’s portfolio to 2.5 GWP solar and 2.5 gwh of Bess.
After this development, Reliance Power shares rose 11.25% on Monday to reach Rs 43 of the NSE. Currently, the Ambani-led company has a market capitalization of Rs 17.172 crore and as of May 12, Reliance Power operates 5,305 MW of power assets, including 3,960 MW of Sasan Power Ltd., a coal-based power plant.
Reliance Nu Energies is waiting for the SJVN’s reward (LOA). The winning tariff was set at Rs 3.33 per kilowatt-hour (kWh), which was fixed for 25 years. The project is part of the tender for the larger 1,200 MW solar and 600 MW/2,400 MWH BESS ISTS connection. The tender attracted 19 bidders and 18 bids were eligible for an electronic reversal auction, highlighting a strong interest in adjustable renewable energy solutions.
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Another Reliance Power unit, Reliance NU Suntech Private Ltd, signed a 25-year power purchase agreement (PPA) with Solar Energy Corporation of India (SECI) to develop Asia’s largest integrated solar and BESS project. The project has a capacity of 930 MW of solar power and is paired with a bass of 465 MW/1,860 MWH. It will require an investment of up to Rs 10 billion.
