Reliance Power has secured a 500 MW Battery Energy Storage System (BESS) project through SECI’s competitive auction. Following the announcement, the company’s shares surged by 5%, trading at ₹31.32.
Reliance Power has won a significant contract to establish a 500 MW/1000 MWh Battery Energy Storage System (BESS) awarded by the Solar Energy Corporation of India (SECI). The contract, secured through a competitive auction, is part of SECI’s ambitious initiative to develop 1,000 MW/2,000 MWh of standalone battery energy storage systems.
Reliance Power’s winning bid, which came in at ₹3.8199 lakh per MW per month, represents a substantial reduction from previous BESS projects, marking a key moment in the ongoing evolution of renewable energy in India.
The project will require Reliance Power to manage the system’s setup, including land identification, installation, securing approvals, and interconnection with the interstate transmission system (ISTS).
As of 12:35 PM, shares of Reliance Power rose 5%, trading at ₹31.32 following the announcement, reflecting market confidence in the company’s expanding role in the renewable energy sector.
