Anil Ambani (Anil Ambani) The subsidiary of Reliance Power, led by Reliance Power, has got a big solar and battery storage project. Let us inform you, this project has been given to Reliance Power’s subsidiary Reliance NU Suntech by Solar Energy Corporation of India (SECI).
Recently got reduction from SECI
This information has come at a time when SECI had given big reduction to Reliance Power a few week in the past. Actually, SECI had issued a debarment discover to the corporate, which has now been withdrawn. Subsequently, Reliance Power and its subsidiaries (besides Reliance NU BESS) have develop into eligible to take part in all SECI tenders.
930 MW solar project
According to an ET Now report, Reliance NU Suntech has gained the contract for 930 MW Solar Energy and Battery Storage System (BESS) in SECI’s Tranche XVII public sale. In this project, the corporate should set up a minimal battery storage capability of 465 MW/1,860 megawatt hour (MWh), which will likely be charged via solar energy. The firm has acquired this project at a tariff of Rs 3.53 per unit (roughly $0.0416/kWh).
What is the specialty of the project
Reliance NU Suntech will develop this project on ‘build-own-operate’ mannequin. Under the project, 4 hours of peak energy provide will likely be assured. SECI will enter right into a Power Purchase Agreement (PPA) with Reliance NU Suntech for 25 years and the solar energy will likely be offered to varied energy distribution firms (DISCOMS) of India.
Company’s efficiency in inventory market
Shares of Reliance Power closed at Rs 44.04 per share on Wednesday. The inventory has risen by 7% within the final one week and by 15% within the final two weeks. The inventory has elevated by 83.88% up to now in 2024 and by 176.98% within the final two years. This project will show to be a big step not just for Reliance Power but additionally for India’s solar power sector. This will promote inexperienced power within the nation and also will focus consideration in direction of battery storage system.
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