Reliance Power eyes 1,500 MW gas project, joins global bids
's
Reliance Power
Ltd is planning to set up a 1,500-MW
gas-based power project
overseas and is actively participating in several international tenders for its development, according to sources.
Sources said, Reliance Power has submitted competitive bids for gas-based power projects in Kuwait, UAE, and Malaysia as part of its selective global expansion strategy.
The company has recently secured two mega power projects in Bhutan - a 500-MW solar project and a 770-MW hydropower project.
Based on the outcome of the ongoing international bids, Reliance Power plans to relocate two 750 MW modules of world-class equipment currently in its possession in India.
The proposed project is expected to create significant value in Reliance Power's balance sheet, as the company aims to realise up to Rs 2,000 crore through the monetisation of these assets.
When contacted, a Reliance Power spokesperson confirmed the company's participation in global tenders.
Originally, the company had imported three modules of 750 MW world class equipment from General Electric, USA, for a gas-based combined cycle power project, out of which one module was exported to Bangladesh for an LNG based power project in partnership with Japan's JERA.
Now, Reliance Power intends to deploy the remaining two modules for a similar project at an overseas location.
The demand for gas-based power - widely regarded as a
clean energy
source - is significantly high in countries such as Kuwait, the UAE, and Malaysia.
However, global suppliers like GE typically require 3 to 5 years to deliver equipment for gas or LNG-based power plants.
In contrast, Reliance Power has 1,500 MW of equipment readily available, enabling it to execute such projects in the shortest possible timeframe.
Reliance Power is actively focusing on renewable and clean energy. The company has a strong development pipeline, including 2.5 GWp of utility-scale
solar projects
and more than 2.5 GWh of
Battery Energy Storage Systems
(BESS). This positions Reliance Power as the largest private sector player in the integrated solar + BESS segment in India.
Reliance Power has also entered into a joint venture with the Bhutan Government's Druk Holding & Investments (DHI) for the development of a 500 -MW solar project and a 770-MW hydropower project in Bhutan. This marks the largest foreign direct investment by an Indian private company in Bhutan's
renewable energy
sector.
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