Reliance to invest Rs 10K cr in solar project in state

Vijayawada: Reliance NU Suntech Private Limited, a wholly owned subsidiary of Reliance Power, has announced plans to invest Rs 10,000 crore for setting up a solar power project in Kurnool district, on a build-own-operate basis, according to a communiqué from the Reliance Power.

The statement released here on Wednesday stated that the project, consisting of a 930 MW solar energy contract with 465 MW/1, 860 MW battery energy storage system (BESS) component, is Asia’s largest solar and battery energy storage project. The project will guarantee a peak power supply of four hours daily (or four-hour discharge duration).

Reliance NU Suntech secured the largest individual allocation of 930 MW through a competitive e-reverse auction from a total bid capacity of 2,000 MW for interstate transmission system-connected solar projects.

Under joint ownership with SECI, the project is scheduled for commissioning within 24 months of signing the power purchase agreement (PPA). The SECI will enter into a 25-year PPA with Reliance NU Suntech, with the solar power generated being supplied to multiple Discoms across India.

The project will create 1,000 direct jobs and approximately 5,000 indirect employment opportunities for workers during the construction phase.

The project integrates solar power with advanced energy storage systems, enhancing the reliability and cost-effectiveness of renewable energy.