Reliance Power Secures 25-Year SECI PPA for Asia’s Largest Solar-BESS Project

Reliance Power Limited, through its wholly owned subsidiary Reliance NU Suntech Private Limited, has announced a landmark 25-year Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI).  

SECI, a prominent Navratna Central Public Sector Enterprise, plays a vital role in India’s clean energy mission. This agreement marks one of the largest long-term power offtake arrangements in the country and significantly strengthens Reliance Power’s presence in the renewable energy space. 

Asia’s Largest Integrated Solar-BESS Project Underway 

Reliance NU Suntech is set to develop Asia’s largest single-location integrated solar and battery energy storage system (BESS) project over the next 24 months. With a planned capital investment of up to ₹10,000 crore, the project underscores Reliance Power’s strategic focus on scalable and sustainable energy infrastructure.  

The initiative is aligned with India’s ambitious renewable energy targets and emphasizes the company’s commitment to clean, low-cost power solutions. 

930 MW Solar + 465 MW/1,860 MWh BESS at ₹3.53/kWh 

The agreement includes the supply of 930 MW of solar power integrated with a 465 MW/1,860 MWh BESS, offered at a competitive fixed tariff of ₹3.53 per unit (kWh).  

To meet the contracted capacity, over 1,700 MWp of solar capacity will be installed. This integration of solar generation with battery storage will ensure both reliability and flexibility, addressing peak demand and grid stability issues. 

Victory in SECI’s Tranche XVII Auction 

In December 2024, Reliance NU Suntech emerged as the largest winner in SECI’s Tranche XVII auction, securing the full allocation of 930 MW solar and 465 MW/1,860 MWh BESS.  

The highly competitive reverse auction saw participation from five major energy firms, competing for 2,000 MW of ISTS-connected solar capacity and 1,000 MW/4,000 MWh of BESS capacity. Reliance’s win highlights its strong project development capabilities and competitive pricing. 

Reliance Power Share Price Performance 

On May 2, 2025, Reliance Power share price opened at ₹40.75, up from its previous close of ₹39.99. At 10:19 AM, the share price of Reliance Power was trading at ₹41.46, up by 3.68% on the NSE. 

Also Read: Key Trends to Watch in May 2025: Indian Stock Market to Witness Several Events!  

Conclusion 

Reliance Power has already submitted a Performance Bank Guarantee (PBG) of ₹378 crore to SECI, completing the entire bidding cycle, including reverse auction, LoA issuance, and PPA signing, in under five months.  

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