Introduction:
Leading power company has secured a 930 MW solar energy and battery energy storage system (BESS) project from SECI. The contract includes a 465 MW storage capacity and a 25-year power purchase agreement, supporting India’s renewable energy growth.
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Share price movement of Reliance Power:
On December 12, 2024, Reliance Power Ltd. opened at ₹46.24, up 4.47% from its previous close of ₹44.04. The stock reached a high of ₹46.24 and a low of ₹44.95. By 12:33 PM, it traded at ₹46.01, a 4.47% increase, with a market cap of ₹18,518.24 crore.
Reliance wins solar project:
Reliance NU Suntech, a subsidiary of Reliance Power Limited, secured a major 930 MW solar energy and battery energy storage system (BESS) project from SECI. The company won the contract with a tariff of ₹3.53 ($0.0416)/kWh.
The bid is part of SECI’s Tranche XVII auction, where Reliance NU Suntech secured the largest individual allocation, beating four competitors. The project includes a minimum 465 MW/1,860 MWh storage capacity, charged by solar power, ensuring peak power supply for four hours daily.
Reliance NU Suntech will develop the project on a build-own-operate basis, with a 25-year power purchase agreement (PPA) with SECI. The solar power will be sold to various discoms, contributing to India’s renewable energy transition.
Recent news on Reliance Power:
As of December 3, 2024, Reliance Power announced the withdrawal of SECI’s debarment notice, allowing the company and its subsidiaries, except Reliance NU BESS, to participate in SECI’s tenders, pending further legal proceedings.
Stock performance of Reliance Power for Period of 1 week, 6 months and 1 year:
Reliance Power Ltd. has shown strong performance, with a 2.09% return over the past week. Over the last six months, it gained 40.6%, and its one-year return stands at an impressive 85%, reflecting significant growth.
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Shareholding pattern of Reliance Power:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 23.30% | 23.20% | 23.20% |
| FII | 13.10% | 12.70% | 13.00% |
| DII | 2.90% | 3.10% | 5.00% |
| Public | 60.70% | 61.00% | 58.80% |
About Reliance Power:
Reliance Power Ltd (NSE: RPOWER) focuses on developing, constructing, and operating power projects globally. With a total generation capacity of 5,945 MW, it includes 5,760 MW from thermal and 185 MW from renewable energy.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
