Reliance Power unit inks 25-year power purchase deal with SECI

This will be supported by a 1,860 MWh battery energy storage system.

Reliance Power’s subsidiary Reliance NU Suntech Private Limited has signed a power purchase agreement with the Solar Energy Corporation of India (SECI) for the supply of solar energy for 25 years.

In a statement, Reliance Power the deal with SECI comprises a supply of 930 megawatt (MW) of solar power integrated with 465 MW/1,860 megawatt-hours battery energy storage system (BESS), at a fixed tariff of INR 3.53 per kilowatt-hour. 

This will be achieved by deploying more than 1,700 megawatt-peak of installed solar generation capacity. 

The subsidiary will develop and commission a single-location integrated solar and BESS project within the next 24 months. It will be Asia’s largest with a capital investment of INR 10,000 crore.

Reliance Power has submitted a Performance Bank Guarantee amounting to INR 378 crore to SECI. The entire bidding process took less than five months.