The tender, focused on developing Inter-State Transmission System (ISTS)-connected solar and battery energy storage systems (BESS), has seen Reliance Power emerge as a frontrunner in the renewable energy race.
Reliance NU Energies secured a 350 MW solar capacity paired with a 175 MW/700 MWh BESS, one of the biggest integrated projects awarded under this format. With a discovered tariff of Rs 3.33/kWh fixed over a 25-year term, the project promises both sustainability and affordability, making it a standout in India’s rapidly evolving energy market. The Letter of Award (LoA) from SJVN is currently awaited.
Once commissioned, this installation will boost Reliance Power’s total pipeline to a whopping 2.5 GWp of solar capacity and more than 2.5 GWh of storage, making it India’s largest player in the Solar + BESS segment.
The tender, part of a 1,200 MW solar + 600 MW/2,400 MWh BESS mega-scheme, attracted intense competition, with 19 entities vying for a spot and 18 qualifying for the reverse e-auction.
The awarded project mandates a minimum four-hour daily discharge window, ensuring reliable peak-time power supply to state utilities. It will follow a Build-Own-Operate (BOO) model under guidelines set by the Ministry of Power.
Meanwhile, Reliance Power's 100% subsidiary Reliance NU Suntech, recently signed a definitive 25-year Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI) to develop Asia’s largest integrated Solar and Battery Energy Storage System (BESS) project. The transformational project will have a solar power capacity of 930 MW, paired with 465 MW/1860 MWh BESS, and will have an investment outlay of up to Rs 10,000 crore. The project will operate at a competitive fixed tariff of Rs 3.53/ kWh for the full PPA term of 25 years, providing long-term revenue visibility.
Reliance Power is one of India's leading private sector power generation companies. The company has an operating portfolio of 5,305 megawatts, that includes 3960 megawatts Sasan Power (world's largest integrated coal based power plant).
Reliance Power reported a consolidated net profit of Rs 125.57 crore for Q4 FY25, marking a turnaround from a net loss of Rs 397.56 crore in Q4 FY24. Revenue from operations fell by 0.93%, reaching Rs 1,978.01 crore compared to Rs 1,996.65 crore in the previous year.