Anil Ambani's Reliance New Suntech signs power purchase agreement for period of…, it is a subsidiary of…

Clean energy is a major achievement in the direction of change.

Reliance Power: Reliance Power's subsidiary company Reliance New Suntech Private Limited has signed a 25-year long-term Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI).

According to the agreement, Reliance New Suntech will supply 930 megawatts of solar energy integrated with a 465 megawatt/1,860 megawatt hour Battery Energy Storage System (BESS) at a competitive fixed rate of Rs 3.53 per kilowatt hour.

A capital investment of up to Rs 10,000 crore is involved. Reliance Power's subsidiary company Reliance New Suntech is set to develop and launch the largest integrated solar and BESS project in Asia at a single location within the next 24 months. This project includes a capital investment of up to Rs 10,000 crore, indicating a significant strategic commitment to operational capacity and long-term value creation.

Clean energy is a major achievement in the direction of change. A solar production capacity of over 1,700 MW (megawatt peak) will be established under the project to achieve a contracted capacity of 930 MW. The statement said that this strategic agreement is one of the most significant long-term power purchase arrangements in India to date, marking a major achievement in the country's clean energy transition.

How the stock has performed: In the past 5 days, Reliance Power's stock has fallen by about 8.5%. In one month, it has declined by 7%. Over 6 months, the stock has decreased by 4.6%. So far in 2025, the stock has dropped by 10%.