Reliance Power announced its subsidiary, Reliance NU Energies, had secured the largest allocation under SJVN’s tariff-based competitive bidding process. The company was awarded 350 MW of solar generation capacity, along with 175 MW/700 MWh of battery energy storage system (BESS).

In a regulatory filing, the company stated that upon commissioning, the project would add 600 MWp of installed solar PV capacity and 700 MWh of energy storage to its portfolio. With this development, Reliance Power's total clean energy pipeline now stands at 2.5 GWp of solar and more than 2.5 GWhr of BESS capacity.

The exchange filing further mentioned that the winning tariff was discovered at Rs 3.33/kWh, fixed for a 25-year term, making the project one of the most competitively priced offerings in India's energy transition space. The company also noted that the Letter of Award (LoA) from SJVN was awaited.

The project forms part of a broader tender issued by SJVN for 1,200 MW of solar capacity combined with 600 MW/2,400 MWh of BESS, to be connected to the Inter-State Transmission System (ISTS). The tender attracted participation from 19 entities, with 18 qualifying for the e-reverse auction. It was oversubscribed by more than four times.

According to Reliance Power, the awarded project includes a requirement for a minimum daily discharge window of four hours, ensuring reliable peak power supply to state distribution utilities (Discoms). The project will be developed under a build-own-operate (BOO) model, in line with the standard bidding guidelines issued by the Ministry of Power.

The company remarked that this successful bid reflected its continued commitment to becoming a key player in India’s renewable energy sector. It considered the win a major milestone in its strategic journey toward cleaner energy sources and its role in advancing the country’s sustainable energy future.

Additionally, the company’s wholly owned subsidiary, Reliance NU, recently signed a 25-year definitive Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI) for the development of Asia’s largest integrated solar and BESS project. The project will have a solar capacity of 930 MW paired with 465 MW/1860 MWh of BESS, involving an investment of up to Rs 100 billion.

News source: Financial Express