Reliance Power zooms as its arm wins allocation in ISTS-connected solar plus battery energy storage system tender
Reliance Power is currently trading at Rs. 42.95, up by 4.30 points or 11.13% from its previous closing of Rs. 38.65 on the BSE.
The scrip opened at Rs. 42.00 and has touched a high and low of Rs. 43.50 and Rs. 41.25 respectively. So far 10225794 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 54.25 on 04-Oct-2024 and a 52 week low of Rs. 23.26 on 05-Jun-2024.
Last one week high and low of the scrip stood at Rs. 43.50 and Rs. 37.00 respectively. The current market cap of the company is Rs. 17524.62 crore.
The promoters holding in the company stood at 23.26%, while Institutions and Non-Institutions held 16.50% and 60.24% respectively.
Reliance Power’s subsidiary--Reliance NU Energies has won the largest allocation in SJVN’s tariff-based competitive bidding process, securing an allocation of 350 MW of solar generation capacity coupled with 175 MW/700 MWh of battery energy storage system (BESS).
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. The company’s total clean energy pipeline now stands at 2.5 GWp solar and >2.5 GWhr BESS, making it India’s largest player in the integrated Solar + BESS segment. The winning tariff was discovered at Rs 3.33/kWh, fixed for a 25-years, positioning the project among the most competitively priced offerings in India’s energy transition landscape. The Letter of Award (LoA) from SJVN is currently awaited.
This allocation represents a material step-up in Reliance Power’s strategic pivot toward renewable power. The project is part of a broader 1,200 MW solar + 600 MW / 2,400 MWh BESS ISTS connected tender floated by SJVN, one of the leading Navratna Public Sector Enterprise 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.
Reliance Power has been established to develop, construct and operate power projects both in India as well as internationally.
