Reliance Power said its Reliance NU Suntech subsidiary has secured a 25-year power purchase agreement with Solar Energy Corp. of India for a 930 MW AC solar project integrated with a 465 MW/1,860 MWh battery energy storage system.
The project will supply four hours of assured peak power daily at a fixed tariff of INR 3.53/kWh. It will be Asia’s largest single-location integrated solar and storage project, scheduled for commissioning within 24 months.
To meet the contracted 930 MW AC capacity, Reliance NU Suntech will install over 1,700 MWp of solar generation.
Reliance NU Suntech won the project in SECI’s Tranche XVII auction through tariff-based competitive bidding. The auction drew five major bidders for 2 GW of ISTS-connected solar and 1 GW/4 GWh of battery storage.
“Reliance Power has successfully submitted a Performance Bank Guarantee (PBG) of INR 378 crore to SECI. The entire bidding process – from the reverse auction to the issuance of the Letter of Award (LoA) and the signing of the PPA – was completed in under five months,” the company stated.
