Reliance Power subsidiary, Reliance NU Suntech, won a landmark 930 MW solar energy contract with battery energy storage system project (BESS) from Solar Energy Corporation of India (SECI) in an e-reverse auction held on 9 December 2024.
As per the terms of the tender, Reliance NU Suntech will also have to install a minimum storage capacity of 465 MW/1,860 MWh charged by solar power.
The Letter of Award (LoA) is awaited from SECI.
Reliance NU Suntech's successful bid for SECI's Tranche XVII auction was won at a tariff of ₹3.53 ($0.0416)/kWh.
The company, among India's leading power generators, secured the largest individual allocation out of the five companies vying for a total quoted capacity of 2,000 MW of Inter-State Transmission System (ISTS) connected solar power projects with 1,000 MW/4,000 MWh energy storage systems.
Reliance NU Suntech's win underlines the technological progress made in solar power with BESS in India which has made it a cost-effective alternative to renewable energy options. The project will guarantee a peak power supply of four hours daily (or a four-hour discharge duration). SECI will enter into a power purchase agreement (PPA) with Reliance NU Suntech for a period of 25 years and the solar power procured will be sold to multiple discoms in India.
Reliance NU Suntech will develop the project on a build-own-operate basis and will have to connect to the interstate transmission system in compliance with Central Electricity Regulatory Commission regulations for interconnection with the ISTS or InSTS.