Reliance Power has won a significant contract in the renewable energy sector, securing a 500 MW/1000 MWh Battery Energy Storage Systems (BESS) project. The project was awarded by the Solar Energy Corporation of India (SECI) through a competitive auction, where JSW Neo Energy also secured a similar 500 MW project.
Reliance Power’s winning bid came with a tariff of ₹3.8199 lakh per MW per month, marking a substantial reduction from previous BESS projects. This contract positions the company as a key player in one of the world’s largest standalone battery energy storage projects.
As of 12:35 PM, Reliance Power’s shares saw a 5% rise, trading at ₹31.32.
This contract will require Reliance Power to set up the storage system, manage installation, and secure all necessary approvals. The system can be charged using any energy source, with the responsibility for charging and discharging resting with the entity purchasing the capacity from SECI.
