Reliance Power to Invest Rs 10,000 Cr in Asia’s Largest Solar-BESS Project

In a transformative move for India’s renewable energy sector, Reliance NU Suntech, a subsidiary of Anil Ambani-led Reliance Power, has inked a monumental 25-year Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI). This agreement, announced via an exchange filing, will power the development of Asia’s largest single-location solar and battery energy storage system (BESS) project.

The initiative, featuring a capacity of 930 MW of solar energy along with a 465 MW/1,860 MWh BESS, is scheduled to become operational within the next 24 months. Supported by a capital infusion of as much as Rs 10,000 crore, the electricity produced will be provided at a steady rate of Rs 3.53/kWh. The project serves as a milestone in India’s clean energy sector, combining more than 1,700 MWp of solar power with cutting-edge storage to guarantee uninterrupted grid reliability.

Reliance NU Suntech’s win in SECI’s Tranche XVII auction in December 2024 saw it emerge as the largest bidder among five major energy players vying for 2,000 MW of solar and 1,000 MW/4,000 MWh of BESS capacity. The firm has submitted a Rs 378 crore Performance Bank Guarantee to SECI, finalizing the auction, award, and contract processes within just five months, highlighting its execution capabilities.

“This is a strategic milestone for us and a strong reaffirmation of our commitment to India’s clean energy transition,” the company stated. The project is poised to significantly enhance India’s renewable energy capacity and accelerate its energy storage infrastructure.