Particle.news
Download on the App Store
3 ARTICLES
·
3d ago

Reliance NU Suntech Signs 25-Year PPA for Asia’s Largest Solar and Battery Project

The agreement with SECI secures 930 MW of solar power and 465 MW/1,860 MWh of battery storage, backed by a Rs 10,000 crore investment.

Reliance Power shares gain over 3% in early deals, here's why

Overview

  • Reliance NU Suntech has formalized a 25-year Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI) to supply 930 MW of solar power integrated with 465 MW/1,860 MWh of battery storage.
  • The project represents Asia’s largest single-location renewable energy and battery storage system, with commissioning targeted within 24 months.
  • Reliance Power has committed a Rs 10,000 crore capital investment and submitted a Rs 378 crore Performance Bank Guarantee to SECI.
  • The fixed tariff for the solar and battery energy is set at Rs 3.53 per kWh, ensuring long-term revenue stability for Reliance NU Suntech.
  • Following the announcement, Reliance Power shares rose 3.25%, reflecting market confidence in the company’s clean energy strategy.