Reliance Infrastructure, Reliance Power shares rally over 10% in 2 days. Here's what moved the Anil Ambani stocks
Reliance Infrastructure and Reliance Power shares surged over 10% in two days after project wins boosted sentiment. Reliance Infra bagged an NHPC solar-plus-BESS project, while Reliance Power entered a Bhutan JV, strengthening their clean energy pipeline to over 3 GW solar and 3.5 GWh storage.
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Anil Ambani-led Reliance Infrastructure and Reliance Power saw their shares surge sharply over the past two sessions, supported by significant project-related announcements that lifted investor sentiment. Reliance Infrastructure's stock rose 10.28% in two days to hit a high of Rs 289.25 on the BSE on Wednesday, while Reliance Power zoomed 10.2% to a high of Rs 47.70 over the same period.The rally was sparked after Reliance Infrastructure secured a Letter of Award (LoA) from NHPC for a large solar power and battery storage project, while Reliance Power announced its participation in a new joint venture in Bhutan, boosting its clean energy portfolio.Reliance Infrastructure announced that it had received a Letter of Award from NHPC, a Navratna central public sector enterprise, for a 390 MW inter-state transmission system (ISTS) connected solar power project coupled with 780 MWh of Battery Energy Storage System (BESS).Once commissioned, the project will add 700 MWp of solar DC capacity and 780 MWh of storage capacity to the Reliance Group 's portfolio, further consolidating its leadership in renewable energy solutions.The winning tariff for the project was discovered at Rs 3.13/kWh, positioning it among the most competitively priced offerings in India's energy transition landscape. The tender, floated by NHPC, witnessed strong participation from 15 entities, with 14 qualifying for the e-reverse auction. It was oversubscribed nearly four times, underlining heightened industry interest in dispatchable renewable energy solutions.This development will expand Reliance Group's clean energy pipeline to more than 3 GW of solar DC capacity and 3.5 GWh of storage capacity, making it India's largest player in the integrated solar plus BESS segment.The company highlighted that the bid marks another step in its vision of building scale in renewable energy and energy storage infrastructure.Reliance Power, already holding a renewable energy portfolio of nearly 2.5 GW of solar and 2.5 GWh of BESS capacity, disclosed the incorporation of GDL – Reliance Solar Pte Ltd (GRSPL), a new associate company under a joint venture structure in Bhutan.The entity has been incorporated under Gelephu Mindfulness City, a Special Administrative Region (SAR) in Bhutan, and represents a 50:50 JV between Green Digital Private Limited, a state-owned enterprise of the Royal Government of Bhutan, and Reliance Enterprises Private Limited (REPL).REPL has subscribed to 225,000 shares of USD 100 each in cash, representing a 50% stake, which translates to Reliance Power indirectly holding 25% of GRSPL. The venture falls within the renewable and green energy sector and is expected to expand Reliance Power's international footprint in clean energy projects.The company stated that the acquisition of this stake was carried out at arm's length, and that the associate is a newly incorporated entity yet to commence operations.With this addition, Reliance Power's combined clean energy pipeline now stands at over 3 GW of solar DC capacity and 3.5 GWh of BESS capacity, consolidating its position as India's largest integrated solar + BESS player.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times
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