In a significant development for India’s renewable energy landscape, Reliance Power Limited has announced a groundbreaking 25-year Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI). This landmark deal, forged through its subsidiary Reliance NU Suntech Private Limited, represents a pivotal achievement in the nation’s pursuit of cleaner energy solutions, reinforcing India’s commitment to sustainability.
A Game-Changer in Solar Energy
Under this ambitious agreement, Reliance NU Suntech will spearhead the development of the largest integrated solar and Battery Energy Storage System (BESS) project in Asia, set to roll out within the next two years. With an investment of up to ₹10,000 crore, this initiative demonstrates Reliance Power’s dedication to enhancing operational efficiency and providing long-term value to the energy sector.
- Key features of the project include:
- 930 MW of solar power generation
- A 465 MW/1,860 MWh Battery Energy Storage System
- A competitive tariff of ₹3.53 per kWh
Strategic Importance of the Agreement
The PPA lays the foundation for a robust energy supply chain, with more than 1,700 MWp of installed solar capacity planned to meet the contracted requirements. This significant agreement positions Reliance Power as a frontrunner in India’s green energy movement, aligning perfectly with the country’s ambitious renewable energy targets.
In December 2024, Reliance NU Suntech clinched the largest allocation in SECI’s Tranche XVII auction, securing 930 MW of solar capacity alongside the associated BESS. This achievement emerged from a competitive bidding process, where five prominent energy firms competed for 2,000 MW of solar projects connected to the Inter-State Transmission System (ISTS), in addition to 1,000 MW/4,000 MWh of BESS capability.
Efficient Execution of Bidding Process
Reliance Power demonstrated its efficiency by submitting a Performance Bank Guarantee (PBG) of ₹378 crore to SECI. The entire bidding cycle—from the reverse auction to the issuance of the Letter of Award (LoA) and the finalization of the PPA—was executed in less than five months, highlighting the streamlined nature of the process.
About Reliance Power
Reliance Power Limited, part of the esteemed Reliance Group, is recognized as one of India’s foremost private power generation companies. The company manages an impressive portfolio of 5,305 megawatts, including the 3,960-megawatt Sasan Power Limited, known as the world’s largest integrated coal-based power facility.
This strategic move not only enhances Reliance Power’s footprint in the renewable sector but also underscores India’s commitment to transitioning towards sustainable and cost-effective energy solutions. As the country continues to invest in green technologies, initiatives like these will play a crucial role in shaping a cleaner, more sustainable future.
