Reliance NU Suntech Pvt Ltd, a subsidiary of Reliance Power Ltd, has signed a 25-year power purchase agreement (PPA) with Solar Energy Corporation of India (SECI) for the former’s mega solar-cum-BESS project.
Reliance NU Suntech is set to develop and commission Asia’s largest single-location integrated solar and battery energy storage system (BESS) project within the next 24 months. The project entails a capital investment of up to Rs.10,000 crore.
This PPA comprises supply of 930 MW of solar power integrated with 465 MW/1,860 MWh Battery Energy Storage System (BESS), at a competitive fixed tariff of Rs.3.53 per kWh. To achieve the contracted capacity of 930 MW, the project will deploy more than 1,700 MWp of installed solar generation capacity.
SECI’s Tranche XVII auction
In December 2024, Reliance Power subsidiary, Reliance NU Suntech secured the largest award in SECI’s Tranche XVII auction, winning an allocation of 930 MW of solar power capacity along with a 465 MW/1,860 MWh Battery Energy Storage System. The allocation was awarded through a tariff-based competitive bidding process, which saw participation from 5 leading energy companies competing for a total of 2,000 MW of Inter-State Transmission System (ISTS)-connected solar projects and 1,000 MW/4,000 MWh of BESS capacity.
PBG submitted
Reliance Power has successfully submitted a Performance Bank Guarantee (PBG) amounting to Rs.378 crore to the Solar Energy Corporation of India (SECI). The entire bidding process – from the reverse auction to the issuance of the Letter of Award (LoA), and culminating in the signing of the Power Purchase Agreement (PPA) – was completed in less than 5 months.
This swift and seamless execution underscores the company’s operational excellence, industry leadership, proven performance over past 10 years, and unwavering commitment to accelerating India’s energy transition, a release from Reliance Power said.
Also read: Reliance Power subsidiary wins solar-BESS project in SECI auction
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