Reliance Power Arm Reliance NU Suntech Inks 25-yr Power Purchase Agreement with SECI

Reliance Power on Friday said its subsidiary, Reliance NU Suntech Pvt Ltd, has signed a 25-year long-term power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI).

As per the agreement, Reliance NU Suntech will supply 930 MW of solar power integrated with 465 MW/1,860 MWh Battery Energy Storage System (BESS), at a competitive fixed tariff of Rs 3.53 per kWh.

Reliance Power subsidiary, Reliance NU Suntech, is set to develop and commission Asia's largest single-location integrated solar and BESS project within the next 24 months.

The project entails a capital investment of up to Rs 10,000 crore, representing a significant strategic commitment to operational scalability and long-term value creation.

To achieve the contracted capacity of 930 MW, the project will deploy more than 1,700 MWp of installed solar generation capacity.

This strategic agreement represents one of the most significant long-term power offtake arrangements in India to date, marking a major milestone in the nation's transition to clean energy, the statement added.

In December 2024, Reliance Power subsidiary, Reliance NU Suntech secured the largest award in SECI's Tranche XVII auction, winning an allocation of 930 MW of solar power capacity along with a 465 MW/1,860 MWh Battery Energy Storage System.

A 465 MW/1,860 MWh BESS means power back up (supply) of 465 MW for four hours.

The allocation was awarded through a tariff-based competitive bidding process, which saw participation from 5 leading energy companies competing for a total of 2,000 MW of Inter-State Transmission System (ISTS)-connected solar projects and 1,000 MW/4,000 MWh of BESS capacity.

This highlights Reliance NU Suntech's strategic commitment to executing large-scale, integrated clean energy projects, the statement added.

Reliance Power has successfully submitted a Performance Bank Guarantee (PBG) amounting to Rs 378 crore to SECI.