BIG win for Anil Ambani, his company bags India's single largest...

Anil Ambani, Reliance Group chairman, seems to be making a comeback these days. His several companies have become debt-free and others have reduced their debt. Now his Reliance NU Suntech, an arm of Reliance Power, has won India's single largest 930 MW solar project with 1,860 MWh battery energy storage system from SECI (Solar Energy Corporation Of India), one of the nodal agencies to implement renewable energy projects in India.

Reliance Power, whose market cap is Rs 17770 crore, said the subsidiary has secured the solar with storage project in an e-reverse auction held by SECI on Monday. "Reliance NU Suntech has won 930 MW solar energy contract from SECI. This is the single largest project of solar and battery storage system in India," the company said. This comes a day after Reliance Power set up a new renewable energy subsidiary, Reliance NU Energies Pvt Ltd.

As per the terms of the tender, Reliance NU Suntech will also have to install a minimum storage capacity of 465 MW/1,860 MWh charged by solar power. An energy storage system of 465 MW/1,860 MWh means 465 MW of battery energy can provide power backup for four hours, giving a total output of 1,860 MW. Reliance NU Suntech has won the project at a tariff of Rs 3.53 /kWh. The Letter of Award (LoA) is awaited from SECI.

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Reliance NU Suntech will develop the project on a build-own-operate basis and connect it to the interstate transmission system (ISTS) in compliance with Central Electricity Regulatory Commission (CERC) regulations for interconnection with the ISTS.

(With inputs from PTI)