The project involves setting up a 390 MW solar project with 780 MWh storage.
Shares of Reliance Infrastructure rose as much as 3.6% on Tuesday, after the company secured a contract for a renewable energy project from NHPC.
According to an official press release dated August 19, Reliance Infrastructure received a Letter of Award (LoA) from NHPC for a major renewable energy project that combines solar power with advanced storage solutions.
The project involves setting up a 390 MW interstate transmission system (ISTS)-connected solar plant integrated with a Battery Energy Storage System (BESS). Once commissioned, the project will add 700 MWp of solar DC capacity along with 780 MWhr of BESS capacity.
The tariff for the project was discovered at ₹3.13 per kWh, a competitive pricing for renewable-plus-storage projects in India.
The tender, launched by NHPC, saw strong participation with 15 entities participating, of which 14 qualified for the e-reverse auction. The process was oversubscribed nearly four times, reflecting the rising demand for dispatchable green energy solutions.
Boosting Renewable Energy Portfolio
The win strengthens the Reliance Group’s position in the solar + BESS space. Reliance Power already has a renewable energy portfolio of nearly 2.5 GWp of Solar and 2.5 GWhr of BESS capacity, and with the addition, the combined clean energy pipeline now stands at more than 3 GWp of Solar DC capacity and over 3.5 GWhr of BESS capacity.
Stock Update
Reliance Infrastructure stock has shed nearly 11% year-to-date, with a steep 30.6% decline over the past month.
Retail chatter picked up significantly on Stocktwits, as sentiment shifted to ‘neutral’ from ‘bearish’ a week ago.
However, sentiment for the stock has primarily been bearish over the past six months as the Anil Ambani-led Reliance Group grapples with intense scrutiny for alleged money laundering in a ₹17,000 crore bank loan fraud case.
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