Reliance NU Suntech, a subsidiary of Reliance Power, has entered into a 25-year Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI) for a large-scale solar and battery energy storage system (BESS) project. The project involves an investment of up to INR 100 billion and will deliver 930 MW of solar power combined with a 465 MW/1,860 MWh BESS at a fixed tariff of INR 3.53 per kWh.
The company plans to install over 1,700 MWp of solar generation capacity to meet the contracted output. The integrated solar-BESS project is expected to be commissioned within 24 months. This development follows Reliance NU Suntech’s success in SECI’s Tranche XVII auction held in December 2024, where it secured the highest allocation of 930 MW of solar capacity and associated BESS. The award was based on a tariff-based competitive bidding process that included five bidders competing for 2,000 MW of solar and 1,000 MW/4,000 MWh of BESS capacity.
To support the agreement, Reliance NU Suntech has submitted a Performance Bank Guarantee worth INR 3.78 billion. The entire bidding and agreement finalization process, from reverse auction to PPA signing, was completed in less than five months.
Reliance Power Limited, part of the Reliance Group, is a private sector power generation company in India. Its operating portfolio includes 5,305 MW of capacity, with the 3,960 MW Sasan Power Limited project as a key asset.