Reliance Power to invest Rs 10K cr for Asia's largest solar-BESS unit

A unit of Anil Ambani-led Reliance Power has signed a 25-year power purchase agreement with the public sector enterprise Solar Energy Corporation of India (SECI) to supply solar power backed by battery storage, according to a company press statement.

Reliance NU Suntech, a wholly owned subsidiary of Reliance Power, will develop Asia’s largest single-site integrated solar and battery energy storage system (BESS) project. The 930 megawatt (MW) solar power capacity will be paired with a 465 MW/1,860 megawatt-hour (MWh) BESS at a fixed tariff of ₹3.53 per kilowatt-hour, the company said on Friday.

“This agreement represents one of the most significant long-term power offtake arrangements in India to date, marking a major milestone in the nation’s transition to clean energy,” the company said.

The project, expected to be commissioned in the next 24 months, represents a capital investment of up to ₹10,000 crore. It will deploy over 1,700 MWp of solar generation to meet the contracted delivery, underscoring the scale of the energy transition Reliance Power is aiming for.

The deal was finalised following NU Suntech’s winning bid in SECI’s Tranche XVII auction in December 2024, where it secured the largest allocation among five participants. The allocation was awarded through a tariff-based competitive bidding process.

To secure the deal, Reliance NU Suntech submitted a performance bank guarantee worth ₹378 crore. The entire process—from reverse auction to signing the agreement—was wrapped up in under five months, a pace the company said reflects its operational agility and project execution strength.

With this project, Reliance Power aims to deepen its footprint in India’s clean energy sector, expanding beyond its 5,305 MW operating portfolio, which includes the coal-based 3,960 MW Sasan Power plant.

“This landmark agreement represents a significant step in Reliance Power’s long-term strategy to lead India’s transition to sustainable, low-cost energy solutions,” the company said.