Share price of Reliance Power: Following an order from THIS Navratna PSU, Anil Ambani’s ADAG stock reaches a 52-week high.
Reliance Power share price: Following an order from Navratna SJVN, Anil Ambani’s ADAG shares reached a 52-week high on Friday, May 30.
On Wednesday, Reliance Power said that its subsidiary, Reliance NU Energies, has obtained a letter of award from SJVN for a 350 MW solar power project that includes a 175 MW/700 MWh battery energy storage system.
According to a corporate release, the platform will strengthen Reliance Power’s position as a pioneer in new energy solutions by adding 700 MWh of BESS capacity and 600 MW of solar DC capacity to its portfolio once it is put into service.
The company claimed to be the biggest participant in India’s integrated solar and BESS market, with 2.4 GW of solar DC capacity and more than 2.5 GWH of BESS capacity in its whole clean energy pipeline.
Reliance NU Energies had previously won the project at a fixed rate of ₹3.33/kWh for a 25-year period after winning the competitive auction held by SJVN.
The project was included in a bigger 600 MW/2,400 MWh BESS and 1,200 MW solar tender that drew 19 developers, 18 of whom advanced to the final e-reverse auction.
Due to increased industry interest in dispatchable renewable energy solutions, the tender was oversubscribed by more than four times.
One of the top private sector power producing firms in India is Reliance Power, which is a division of the Reliance Group. The company’s 5,305 megawatt operating portfolio includes 3,960 megawatts of Sasan Power Ltd., the largest integrated coal-based power plant in the world.
