Reliance Power subsidiary, Reliance NU Suntech, has signed a landmark 25-year long-term Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI). This strategic agreement represents one of the most significant long-term power offtake arrangements in India to date, marking a major milestone in the nation's transition to clean energy.
Reliance Power subsidiary, 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, representing a significant strategic commitment to operational scalability and long-term value creation. It aligns with the nation's ambitious renewable energy targets and further strengthens Reliance Power's position as a key player in India's green energy ecosystem.
Reliance NU Suntech's signed Power Purchase Agreement with SECI 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 ₹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. This landmark agreement represents a significant step in Reliance Power's long-term strategy to lead India's transition to sustainable, low-cost energy solutions.
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. This highlights Reliance NU Suntech's strategic commitment to executing large-scale, integrated clean energy projects.
Reliance Power have 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.