Winning Bizness Desk

Mumbai. Reliance New Suntech Private Limited, a subsidiary of Anil Ambani-led Reliance Power Limited, has secured a landmark 930 MW solar power project integrated with a battery energy storage system. The Solar Energy Corporation of India (SECI) conducted the competitive auction for this project on December 9, 2024. Reliance New Suntech emerged as the winner with a bid of ₹3.53 per unit (kilowatt-hour) during the 17th round of SECI auctions. In a notice to the stock market on Wednesday, Reliance Power announced its subsidiary's achievement. The project entails a solar energy system coupled with a battery storage capacity of 1,860 megawatt-hours (MWh). Notably, this is the largest solar and battery energy storage project in India to date.

As per SECI’s tender requirements, Reliance New Suntech will integrate a minimum storage capacity of 465 MW/1,860 MWh along with the solar installation. While the company awaits the official allotment letter from SECI, the project marks a major milestone for Reliance New Suntech, as it has bagged the largest single project in this auction. SECI had tendered a total capacity of 2,000 MW with an energy storage system of 1,000 MW/4,000 MWh. Five companies competed, but Reliance New Suntech's bid claimed the largest share.

Long-Term Agreement with SECI

Reliance New Suntech will enter into a 25-year power purchase agreement (PPA) with SECI. Under the agreement, the solar power generated from this project will be sold to distribution companies across the country. The project will be developed on a Build, Own, and Operate (BOO) basis. In compliance with Central Electricity Regulatory Authority (CERA) guidelines, the project will connect to India’s Interstate Transmission System (ISTS).

Boost for Reliance Power’s Portfolio

Reliance Power, a leading player in India’s energy sector, has an installed capacity of 5,300 MW, including the operational 3,960 MW Sasan ultra-mega power project in Madhya Pradesh. The company’s latest win reflects its commitment to expanding its renewable energy portfolio and underscores its capabilities in large-scale energy solutions.

SECI’s Role in Renewable Energy Development

SECI, the nodal agency for implementing renewable energy initiatives in India, plays a pivotal role in advancing the country’s transition to clean energy. By awarding such projects, SECI supports India’s ambitious renewable energy targets while fostering private sector participation in sustainable energy solutions. Overall, this achievement marks a significant step for Reliance Power in contributing to the nation’s renewable energy landscape, further solidifying its position as a key player in the sector.