Reliance to sell 930 MW solar power to NU Suntech
Business Business: Reliance Power on Tuesday announced that its subsidiary Reliance NU Suntech has secured a 930 MW solar project and a 465 MW battery energy storage system (BESS) project from Solar Energy Corporation of India (SECI). The project will be Asia’s second largest grid-scale battery deployment at a single location after China, the company said in a statement. Reliance Power subsidiary Reliance NU Suntech Private Limited (Reliance NU Suntech) has received a letter of award from SECI for the proposed 930 MW and 465 MW/1860 MW BESS solar projects, the statement said. Competitive tariffs with guaranteed supply of power for up to 4 hours per day will provide relief to discoms, which have to continuously buy power from power exchanges at a maximum rate of Rs 10 per unit during peak hours. Earlier on December 9, 2024, Reliance NU Suntech won a 930 MW solar contract in a reverse electronic auction. As per the tender terms, Reliance NU Suntech will also set up at least 465 MW/1,860 MWh solar storage capacity.
The company, one of India’s largest power producers, has secured the largest allocation of units among five companies competing for a combined capacity of 2,000 MW out of 1,000 MW/4,000 MWh solar projects for the Inter-State Transmission System (ISTS). SECI will secure a 25-year power purchase agreement with Reliance NU Suntech and the solar power purchased will be sold to various companies in India. Reliance NU Suntech will develop the project on a build-own-operate basis.
