Reliance NU Energies secures 350 MW solar power project from SJVN

Reliance Power on Monday said its arm Reliance NU Energies has secured 350 MW solar project with a 175 MW/700 MWh of battery energy storage system (BESS) from SJVN Ltd.

The BESS, integrated with the solar project, will provide a backup power supply of 175 MWh for four hours.

The winning tariff was set at Rs 3.33/kWh, fixed for 25 years, positioning the project among the most competitively priced offerings in India's energy transition landscape, a company statement said.

Reliance Power Ltd (Reliance Power) subsidiary Reliance NU Energies Private Ltd (Reliance NU Energies), wins the largest allocation in SJVN's tariff-based competitive bidding process, securing an allocation of 350 MW of solar power generation capacity coupled with 175 MW/700 MWh of BESS, according to the statement. 

Once commissioned, the platform will add 600 MWp of installed solar PV capacity and 700 MWh of energy storage to Reliance Power's portfolio, consolidating its leadership in new energy solutions.

With this addition, the company's total clean energy pipeline now stands at 2.5 GWp of solar capacity and 2.5 GWh of BESS, making it India's largest player in the integrated Solar + BESS segment.

Reliance Power is currently awaiting the Letter of Award (LoA) from SJVN.

This allocation represents a material step-up in Reliance Power's strategic pivot toward renewable power energy. The project is part of SJVN's larger tender for 1,200 MW of solar power coupled with 600 MW / 2,400 MWh of BESS, connected to the ISTS network.

SJVN, one of the leading Navratna Public Sector Enterprises, had floated the tender, which saw participation from 19 entities, with 18 qualifying for the e-reverse auction.

The tender was oversubscribed by more than 4 times, reflecting heightened industry interest in dispatchable renewable energy solutions.

The awarded project requires a minimum four-hour daily discharge window, effectively enabling assured peak power supply to state distribution utilities (Discoms). It will be developed under a build-own-operate (BOO) framework following the standard bidding guidelines prescribed by the Ministry of Power. 

Meanwhile, Reliance Power's 100 per cent subsidiary Reliance NU Suntech Private Ltd has recently signed a definitive 25-year Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI) to develop Asia's largest integrated Solar and BESS project.

The transformational project will have a solar power capacity of 930 MW, paired with 465 MW/1860 MWh BESS, and will have an investment outlay of up to Rs 10,000 crore. The project will operate at a competitive fixed tariff of Rs 3.53 per kWh for the full PPA term of 25 years, providing long-term revenue visibility.

Reliance Power has an operating portfolio of 5,305 megawatts, which includes 3,960 megawatts of Sasan Power Ltd (the world's largest integrated coal-based power plant).