Reliance Power, through its subsidiary Reliance Nu Suntech, has entered into a 25-year power purchase agreement (PPA) with the Solar Energy Corporation of India Limited (SECI) for a 1.4 GW solar and battery storage project. With an investment of Rs 100 billion, the project will be implemented at a single location over the next 24 months.
According to the agreement, Reliance will supply power from a 930 MW solar project at a tariff of Rs 3.53 per unit. The project will also include a battery storage system with a backup capacity of 465 MW for four hours.
Additionally, Reliance has also submitted a performance bank guarantee of Rs 3.78 billion to SECI. This project is reportedly the largest single capacity awarded under SECI’s tranche XVII auction, which concluded in December 2024.
