Reliance Power Soars After Record Solar Project Win

Shares of Reliance Power surged 5% as its subsidiary, Reliance NU Suntech, secured the largest 930 MW solar project with 1,860 MWh battery storage from SECI. The landmark project was won through an e-reverse auction, highlighting Reliance Power's growing footprint in renewable energy.

Shares of Reliance Power surged 5% on Thursday following a significant achievement by its subsidiary, Reliance NU Suntech, which secured the country's largest 930 MW solar project from the Solar Energy Corporation of India (SECI).

Reliance NU Suntech emerged victorious in the SECI-backed e-reverse auction held this Monday, securing a project that includes a 1,860 MWh battery energy storage system. This development was highlighted in a company statement released on Wednesday.

This venture marks the largest solar energy and battery storage initiative in India, requiring Reliance NU Suntech to install a minimum storage capacity of 465 MW/1,860 MWh, all charged by solar power.

(With inputs from agencies.)