Reliance Power jumped over 10 per cent after its arm Reliance NU Energies emerged top bidder for SJVN’s ISTS-connected Solar and BESS project. The win adds 600 MWp solar and 700 MWh storage to its pipeline, boosting its clean energy footprint.
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| Reliance Power Soars On Solar Win, Subsidiary Tops Bidding For SJVN Project |
Mumbai: Shares of Reliance Power surged more than 10 per cent on Monday, May 12, following a key announcement that its subsidiary, Reliance NU Energies, emerged as the top bidder in SJVN’s competitive bidding process for Inter-State Transmission System (ISTS)-connected solar and battery storage projects.
The company secured a significant allocation of 350 MW solar generation capacity along with a 175 MW/700 MWh Battery Energy Storage System (BESS) under the tariff-based tender. The project was won at a competitively discovered tariff of Rs 3.33 per kWh, fixed for 25 years, making it one of India’s most cost-effective renewable offerings.
Strengthening Clean Energy Leadership
This win bolsters Reliance Power’s position as a leading integrated Solar + BESS player in India, taking its pipeline to 2.5 GWp of solar and over 2.5 GWh of energy storage. Once commissioned, this platform will contribute 600 MWp solar PV and 700 MWh of storage to its renewable energy portfolio.
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