Shares of Reliance Power Ltd surged over 3% to ₹53.85 in morning trade on May 30, marking a fresh 52-week high of ₹55.10, following a significant project win announcement by its subsidiary.
The rally came after Reliance NU Energies, a subsidiary of Reliance Power, received a letter of award from state-run SJVN for developing a 350 MW solar power project integrated with a 175 MW/700 MWh Battery Energy Storage System (BESS). The project was awarded at a fixed tariff of ₹3.33/kWh for 25 years.
According to the company, the project will contribute an additional 600 MW of Solar DC capacity and 700 MWh of BESS to its portfolio. With this addition, Reliance Power’s clean energy pipeline now stands at 2.4 GW of Solar DC capacity and over 2.5 GWh of BESS capacity, making it the largest player in India in the integrated solar and battery energy storage segment.
This development is seen as a strategic leap for the company as it accelerates its transition toward new energy solutions and sustainable power generation.
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