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The Hindu
02-05-2025
- Business
- The Hindu
Reliance Power arm signs 25-year long-term PPA with SECI
Reliance Power Ltd's subsidiary, Reliance NU Suntech Private Ltd. said it has signed a 25-year long-term power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI), a Central Public Sector Enterprise. Reliance NU Suntech will develop and commission an integrated solar and battery energy storage system (BESS) project within the next 24 months. The project entails a capital investment of up to ₹10,000 crore. Reliance NU Suntech's signed Power Purchase Agreement with SECI comprises supply of 930 MW of solar power integrated with 465 MW/1,860 MWh Battery Energy Storage System (BESS), at a competitive fixed tariff of ₹3.53 per kWh. To achieve the contracted capacity of 930 MW, the project will deploy more than 1,700 MWp of installed solar generation capacity, the company said.
India.com
02-05-2025
- Business
- India.com
Masterstroke by Anil Ambani, Reliance Power to Invest Rs 100000000000 in Asia's Largest…, will supply…
Anil Ambani (File) Anil Ambani's Reliance NU Suntech, a subsidiary of Reliance Power, has announced a Rs 10,000 crore investment to develop Asia's largest single-location solar and battery energy storage system (BESS) project. It will help India to improve its green energy resources. Reliance NU Suntech has signed a 25-year Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI). This agreement gives gurantee of supply of 930 MW of solar power integrated with a 465 MW/1,860 MWh BESS. The project, developed over the next 24 months, will deliver power at a fixed tariff of Rs 3.53 per kilowatt-hour (kWh). To meet the 930 MW contracted capacity, the project will deploy over 1,700 MWp of solar generation capacity along with advanced energy storage systems made for grid stability and reliability. SECI's Tranche XVII conducted an auction in December 2024 for the project. Where Reliance NU Suntech became the largest allocation in the bid as compared to other five energy bidders. The competitive process sought bids for 2,000 MW of solar and 1,000 MW/4,000 MWh of BESS capacity. Reliance Power completed the auction requirements in fastest speed by submitting Rs 378 crore Performance Bank Guarantee (PBG) to SECI. 'This project is a strategic milestone for us and a strong reaffirmation of our commitment to India's clean energy transition,' Reliance Power said in a statement. The company also stated that the project will contribute to India's renewable energy targets and strengthen the country's energy storage infrastructure.
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Business Standard
02-05-2025
- Business
- Business Standard
Reliance Power signs 25-year SECI pact for solar and battery project
A unit of Anil Ambani-led Reliance Power has signed a 25-year power purchase agreement with the public sector enterprise Solar Energy Corporation of India (SECI) to supply solar power backed by battery storage, according to a company press statement. Reliance NU Suntech, a wholly owned subsidiary of Reliance Power, will develop Asia's largest single-site integrated solar and battery energy storage system (BESS) project. The 930 megawatt (MW) solar power capacity will be paired with a 465 MW/1,860 megawatt-hour (MWh) BESS at a fixed tariff of ₹3.53 per kilowatt-hour, the company said on Friday. 'This agreement represents one of the most significant long-term power offtake arrangements in India to date, marking a major milestone in the nation's transition to clean energy,' the company said. The project, expected to be commissioned in the next 24 months, represents a capital investment of up to ₹10,000 crore. It will deploy over 1,700 MWp of solar generation to meet the contracted delivery, underscoring the scale of the energy transition Reliance Power is aiming for. The deal was finalised following NU Suntech's winning bid in SECI's Tranche XVII auction in December 2024, where it secured the largest allocation among five participants. The allocation was awarded through a tariff-based competitive bidding process. To secure the deal, Reliance NU Suntech submitted a performance bank guarantee worth ₹378 crore. The entire process—from reverse auction to signing the agreement—was wrapped up in under five months, a pace the company said reflects its operational agility and project execution strength. 'This landmark agreement represents a significant step in Reliance Power's long-term strategy to lead India's transition to sustainable, low-cost energy solutions,' the company said.
Time of India
02-05-2025
- Business
- Time of India
Anil Ambani's Reliance Power to invest ₹10,000 cr for Asia's largest solar-BESS project
In a major step toward advancing India's green energy ambitions, Reliance NU Suntech , a subsidiary of Anil Ambani 's Reliance Power , has signed a landmark 25-year Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI), the company said in an exchange filing on Friday. The agreement covers the supply of 930 MW of solar power integrated with a 465 MW/1,860 MWh battery energy storage system (BESS), making it Asia's largest single-location solar-BESS project to date, it said. The project will be developed over the next 24 months with a capital investment of up to ₹10,000 crore. The power will be delivered at a fixed tariff of ₹3.53 per kilowatt hour (kWh). The deal marks one of the most significant long-term clean energy pacts in India, both in scale and strategic value. To meet the contracted 930 MW capacity, Reliance NU Suntech will install over 1,700 MWp of solar generation capacity, integrating advanced energy storage systems to ensure reliability and grid stability. The PPA follows Reliance NU Suntech's major win in SECI's Tranche XVII auction in December 2024, where it emerged as the largest bidder, securing 930 MW of solar capacity and 465 MW/1,860 MWh of BESS. The competitive bidding process attracted five major energy players competing for 2,000 MW of solar and 1,000 MW/4,000 MWh of BESS capacity. Reliance Power has already submitted a ₹378 crore Performance Bank Guarantee (PBG) to SECI, completing the auction, award, and contract signing within five months. The company said this rapid execution showcases its operational agility and long-standing expertise in managing large-scale energy projects. 'This is a strategic milestone for us and a strong reaffirmation of our commitment to India's clean energy transition,' the company said in a statement, adding that the project will contribute significantly to meeting the country's renewable energy goals and boosting energy storage infrastructure.
Mint
02-05-2025
- Business
- Mint
Anil Ambani's Reliance NU Suntech to build solar project worth ₹10,000 crore, signs 25-year agreement with SECI
Reliance NU Suntech, a subsidiary of Anil Ambani-owned Reliance Power, has signed a 25-year Power Purchase Agreement with the Solar Energy Corporation of India, a PSU under the Ministry of New and Renewable Energy, to develop and commission Asia's largest single-location integrated solar and battery energy storage system (BESS) project. The project involves an investment of up to ₹10,000 crore and is expected to be finished in 24 months, the company said in an exchange filing on Friday, May 2, 2025.
