Reliance Power gains 10% after subsidiary emerges top bidder for SJVN's Solar and BESS project
Published on 12/05/2025 10:35 AM
Reliance Power gains 10% after subsidiary emerges top bidder for SJVN's Solar and BESS projectOnce commissioned, the new platform will contribute 600 MWp of solar photovoltaic capacity and 700 MWh of energy storage to Reliance Power’s clean energy portfolio.By CNBCTV18.com May 12, 2025, 10:35:36 AM IST (Published)2 Min ReadShares of Reliance Power surged more than 10% on Monday, May 12, after the company announced that its arm Reliance NU Energies emerged as the top bidder in SJVN’s recent tariff-based competitive bidding process for Inter-State Transmission System (ISTS)-connected Solar and Battery Energy Storage System (BESS) projects.
In a stock exchange filing, the company said that its subsidiary Reliance NU Energies has secured a significant allocation of 350 MW of solar generation capacity alongside a 175 MW/700 MWh battery energy storage component.
This development strengthens Reliance Power’s position as the country’s largest integrated player in the Solar and BESS segment, with a total pipeline of 2.5 GWp of solar capacity and more than 2.5 GWh of energy storage.
Once commissioned, the new platform will contribute 600 MWp of solar photovoltaic capacity and 700 MWh of energy storage to Reliance Power’s clean energy portfolio.
The project was bagged at a competitively discovered tariff of ₹3.33 per kWh, fixed for a 25-year term, placing it among India’s most cost-effective renewable energy offerings. The Letter of Award (LoA) from SJVN is currently awaited.
The bidding process, which was part of a broader 1,200 MW solar + 600 MW / 2,400 MWh BESS ISTS-connected tender, saw participation from 19 entities, with 18 qualifying for the e-reverse auction. The tender was oversubscribed by over four times.
The project requires a minimum four-hour daily discharge window, ensuring reliable peak power supply to state distribution utilities (Discoms). It will be developed under the Build-Own-Operate (BOO) model in accordance with the Ministry of Power’s standard bidding guidelines.
Separately, Reliance NU Suntech Private Limited, another 100% subsidiary of Reliance Power, has signed a 25-year Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI) to develop Asia’s largest integrated Solar and BESS project.
The project will feature 930 MW of solar capacity and 465 MW/1860 MWh of energy storage, with an investment outlay of up to ₹10,000 crore. The energy will be supplied at a fixed tariff of ₹3.53/kWh for the entire duration of the PPA.
Shares of Reliance Power were trading 9.44% higher at ₹42.6 apiece on the BSE around 9.45 am. The gain was in line with the benchmark Sensex surging 2.45% or 1,948 points to 81,400 amid a bull run in the broader market.Continue ReadingCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsReliance PowerReliance Power Q4