Reliance Power Limited’s subsidiary, Reliance NU Suntech Private Limited, has taken a major leap in India’s clean energy sector by signing a 25-year Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI). This move places Reliance Power at the forefront of India’s renewable energy transition, with an ambitious project that sets several industry benchmarks.

Asia’s Largest Integrated Solar and Battery Energy Storage Project

Under this agreement, Reliance NU Suntech is set to develop Asia’s largest single-location integrated Solar and Battery Energy Storage System (BESS) project. The scale of the project is immense — 930 MW of solar power coupled with a 465 MW/1,860 MWh BESS. The project will be developed with a massive investment of up to ₹10,000 crore, to be completed in the next 24 months.

This scale signifies more than just capacity; it symbolises India’s shift towards large-scale renewable infrastructure, meeting the country’s future power demands through clean and sustainable means.

Highly Competitive Tariff at ₹3.53/kWh

A standout feature of this project is its fixed tariff of ₹3.53 per unit, which was finalised through a competitive bidding process. This pricing ensures that the project remains economically viable for the long term while providing affordable clean energy to Indian consumers.

To achieve the contracted 930 MW delivery, over 1,700 MWp of solar generation capacity will be deployed, which highlights the high efficiency and redundancy design of the project.

SECI Tranche XVII Win: Key Catalyst for the Agreement

The PPA follows Reliance NU Suntech’s win in SECI’s Tranche XVII auction held in December 2024. The company secured the largest allocation — 930 MW of solar and 465 MW/1,860 MWh of BESS — through a tariff-based competitive bidding process. This round involved five leading energy companies vying for 2,000 MW of ISTS-connected solar projects and 1,000 MW/4,000 MWh of BESS capacity.

Reliance NU Suntech emerged as a clear winner, marking its technical and commercial competitiveness in large-scale renewable energy ventures.

Swift Execution: From Auction to Agreement in Under Five Months

The entire lifecycle of the agreement — from reverse auction, Letter of Award (LoA), to the signing of the PPA — was executed in less than five months. This speed and efficiency reflect Reliance Power’s operational excellence, strong in-house capability, and proven track record over the last decade.

Moreover, Reliance Power has already submitted a Performance Bank Guarantee (PBG) of ₹378 crore to SECI, a significant milestone in honouring its obligations.

Strategic Commitment to India’s Green Energy Goals

This project aligns with India’s broader vision of achieving its renewable energy targets as part of its commitments under international climate agreements. With this deal, Reliance Power not only reinforces its green credentials but also plays a pivotal role in accelerating India’s energy transition.

The collaboration between a leading private player like Reliance and a public sector giant like SECI demonstrates the synergy required for nationwide energy transformation. This partnership is expected to create significant employment opportunities, enhance grid stability, and reduce the carbon footprint over the 25-year duration of the project.

Reliance Power’s Growing Green Portfolio

This deal is a part of Reliance Power’s ongoing transformation strategy. Over the last few years, the company has been gradually shifting its focus from fossil-fuel-based assets to renewable energy and storage solutions. The NU Suntech-SECI deal is a flagship initiative that reflects the company’s vision for the future.

As India aims to achieve 500 GW of non-fossil fuel energy capacity by 2030, projects like this will play a vital role in realising those goals. Integrated solar-BESS setups are crucial to ensuring that intermittent solar generation is balanced through efficient energy storage, delivering round-the-clock reliability.

A Milestone Deal for India's Renewable Energy Sector

This 25-year agreement is not just a commercial win for Reliance Power; it’s a milestone for India’s clean energy landscape. The integration of solar generation with storage capacity in such a large volume sets a new precedent for how future renewable energy tenders will be designed and executed.

Additionally, the long-term nature of the PPA ensures consistent cash flows, which can be vital for enabling further investments in next-gen energy technologies. It also provides regulatory and pricing stability to both the government and the power developer.

Conclusion

In conclusion, Reliance NU Suntech’s groundbreaking PPA with SECI is a testament to the maturing Indian renewable energy market, where scale, innovation, and execution are coming together. With ₹10,000 crore investment, the largest integrated solar and BESS project in Asia, and a record 930 MW capacity win, Reliance Power has made a bold statement about its future direction and capabilities.

This project is expected to pave the way for further innovations in India’s energy ecosystem and strengthen the country’s resolve to become a global leader in sustainable energy solutions.

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