Reliance Power's Subsidiary Wins Largest Allocation In SJVN's Project

Reliance Power Ltd. confirmed on Monday that its subsidiary, Reliance NU Energies Pvt. Ltd., has secured the largest allocation in SJVN's tariff-based competitive bidding process, with 350 megawatt of solar generation capacity. This also includes a 175 MW per 700 MW-hour battery energy storage system, as stated in an exchange filing.

The winning tariff was set at ₹3.33 per kWh for 25 years, with the letter of award from SJVN still awaited. Upon commissioning, this project will add 600 megawatt-peak of installed solar photovoltaic capacity and 700 MWh of energy storage to Reliance Power’s portfolio. Currently, the company has a total clean energy pipeline of 2.50 GWp solar and more than 2.50 GWhr battery energy storage.

The project is part of a broader 1.20 GW solar with 600 MW per 2.40 G KWh battery energy storage system ISTS-connected tender floated by SJVN, which was oversubscribed more than four times.

Earlier, Reliance Power’s wholly-owned subsidiary, Reliance NU Suntech Pvt. Ltd., signed a definitive 25-year power purchase agreement with the Solar Energy Corp. of India at a tariff of ₹3.53 per kWh to develop an integrated solar and battery energy storage system for ₹100 billion.