Reliance Power share price: Anil Ambani-owned ADAG stock hits 52-week high after order from THIS Navratna PSU

Reliance Power share price: Anil Ambani-owned ADAG stock has hit a 52-week high on Friday, May 30, after bagging an order from Navratna SJVN.

Reliance Power on Wednesday said its arm Reliance NU Energies has received a letter of award for a 350 MW solar power project coupled with a 175 MW/700 MWh Battery Energy Storage System from SJVN.

Once commissioned, the platform will add 600 MW of solar DC capacity, and 700 MWh of BESS capacity to Reliance Power’s portfolio, consolidating its leadership in new energy solutions, a company statement said.

The company’s total clean energy pipeline now stands at 2.4 GW of Solar DC capacity and over 2.5 GWH of BESS capacity, making it India’s largest player in the integrated Solar and BESS segment, it stated.

Reliance NU Energies had earlier emerged as the successful bidder in the competitive auction conducted by SJVN, securing the project at a fixed tariff of ₹3.33/kWh for a period of 25 years.

The project was part of a larger 1,200 MW solar and 600 MW/2,400 MWh BESS tender, which attracted participation from 19 developers, with 18 qualifying for the final e-reverse auction.

The tender was oversubscribed by more than 4 times, reflecting heightened industry interest in dispatchable renewable energy solutions.

Reliance Power, part of the Reliance Group, is one of India’s leading private sector power generation companies. The company has an operating portfolio of 5,305 megawatts, that includes 3,960 megawatts Sasan Power Ltd — world’s largest integrated coal based power plant.