Anil Ambani has got a big success the very next day of the announcement of the new company. Reliance New Suntech Private Limited, a subsidiary of Reliance Power Ltd., has secured a 930 MW solar energy project with battery energy storage system in the auction of Solar Energy Corporation of India (SECI). This auction of solar project was held on 9 December 2024. Reliance New Suntech made a successful bid at the rate of Rs 3.53 per unit (kilowatt per hour) in the 17th round of auction of SECI. After this news, action can be seen in the company’s stock.
The biggest project of solar and battery storage system is for Anil Ambani
In the information given to the stock market by Reliance Power, it was said, “Subsidiary company Reliance NU Suntech has won a 930 MW solar energy project with a battery energy storage system of 1,860 MW capacity in SECI auction. This is the largest project of solar and battery storage system in the country.” As per the terms of the tender, Reliance New Suntech will also have to install a minimum storage system of 465 MW / 1,860 MW capacity along with the solar project.
The company has not yet received the allotment letter for the project from SECI.
Power purchase agreement for 25 years
According to the statement, Reliance New Suntech has individually got the largest solo project out of the five companies for projects of 2,000 MW capacity connected to the total Interstate Transmission System (ISTS) with an energy storage system of 1,000 MW/4,000 MWH in the auction. SECI will enter into a power purchase agreement (PPA) with Reliance New Suntech for a period of 25 years. The solar power purchased will be sold to the distribution companies of the country.
Anil Ambani’s one of the country’s leading power generation companies
Reliance New Suntech will develop this project on Build, Own and Operate (BOO) basis. The company will connect the project to the ISTS under the rules of connecting projects to the Interstate Transmission System (ISTS) of the Central Electricity Regulatory Authority. Reliance Power Limited, a unit of the Reliance Group, is one of the leading power generation companies in the country. The company has an installed capacity of 5,300 MW. This includes the 3,960 MW Sasan mega power project operating in Madhya Pradesh. SECI is the nodal agency for implementing renewable energy projects in the country.
