Reliance Power Limited, through its subsidiary Reliance NU Suntech Private Limited (Reliance NU Suntech), has signed a landmark 25-year long-term Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI), a leading Navratna Central Public Sector Enterprise. This agreement marks one of the most significant long-term power offtake arrangements in India to date, underscoring a major milestone in the country’s transition to clean energy.
Under the agreement, Reliance NU Suntech is set to develop and commission Asia’s largest single-location integrated solar and battery energy storage system (BESS) project within the next 24 months. The project will involve a capital investment of up to Rs 10,000 crore, highlighting the company’s commitment to operational scalability and long-term value creation. It aligns with India’s ambitious renewable energy goals and further positions Reliance Power as a key player in the nation’s green energy ecosystem.
The Power Purchase Agreement entails the supply of 930 MW of solar power integrated with a 465 MW/1,860 MWh Battery Energy Storage System (BESS), at a competitive fixed tariff of Rs 3.53 per kWh. To deliver the contracted capacity of 930 MW, the project will deploy more than 1,700 MWp of installed solar generation capacity. This landmark agreement forms a cornerstone of Reliance Power’s strategy to lead the transition towards sustainable and low-cost energy solutions.
In December 2024, Reliance NU Suntech secured the largest award in SECI’s Tranche XVII auction, winning 930 MW of solar power capacity along with the associated 465 MW/1,860 MWh BESS. The allocation resulted from a tariff-based competitive bidding process, which saw participation from five leading energy companies vying for a total of 2,000 MW of Inter-State Transmission System (ISTS)-connected solar projects and 1,000 MW/4,000 MWh of BESS capacity.
As part of the process, Reliance Power successfully submitted a Performance Bank Guarantee (PBG) of Rs 378 crore to SECI. The entire bidding process—from the reverse auction to the issuance of the Letter of Award (LoA), and culminating in the signing of the Power Purchase Agreement—was completed in under five months.
Reliance Power Limited, a part of the Reliance Group, is one of India’s leading private sector power generation companies. It operates a portfolio of 5,305 megawatts, which includes the 3,960-megawatt Sasan Power Limited—recognized as the world’s largest integrated coal-based power plant.