Anil Ambani-led Reliance Power is back in Andhra Pradesh with plans to build a new solar power plant and solar manufacturing facility.
The Anil Ambani-led firm also plans to build an integrated solar manufacturing facility with a reported investment of Rs 6,500 crore in the southern state
Anil Ambani-led Reliance Power is back in Andhra Pradesh with plans to build a new solar power plant and solar manufacturing facility.
Reliance Power's subsidiary Reliance NU Suntech Pvt has won the project to build a 930 MW solar power plant and 1860 MWh battery storage capacity facility in Andhra Pradesh's Kurnool district, the Economic Times (ET) reported citing a company spokesperson. They claim it would be Asia's largest solar and battery storage project at a single location, which would provide as many as 6,000 jobs. Reliance Power plans to invest over Rs 10,000 crore in Andhra Pradesh for the project.
Further, the Anil Ambani-led firm also plans to build an integrated solar manufacturing facility with a reported investment of Rs 6,500 crore in the southern state. The ET report says the firm plans to finalise a land parcel near the Rambili industrial area in Anakapalli district for the plant.
This is not the first time Anil Ambani-led firm has tried to set up a large-scale power project in Andhra Pradesh. Their earlier attempt to build a 2,400 MW gas-based thermal power plant in Samalkot district in 2010-11 failed. The company ended up incurring a large debt of around Rs 2,500 crore from the Export-Import Bank of the United States.
The Samalkot project was unable to get off the ground due to the lack of natural gas in the country, and Reliance Power had to export power equipment from the site to Bangladesh for another project. According to a report by the South First, Reliance Power's subsidiary Samarlakota Power Limited finally settled its debts incurred from the project in December 2024.
Reliance Power spent a large part of 2024 paying off a number of its debts, making its subsidiaries free of all obligations. In September, the company announced it had fully settled a Rs 3,872 crore guarantee for Vidarbha Industries Power (VIPL), resulting in it being free of all corporate guarantees, undertakings, and obligations.
Later in November, Reliance Power said its subsidiary Rosa Power Supply Company had prepaid Rs 485 crore debt to Singapore-based Vaede Partners, making the entity debt-free. At the time, Reliance Power said that the strengthening of Rosa Power's balance sheet would support its pursuit in the green energy sector.