Business EconomyPosted at: Jan 15 2025 7:12PM


Reliance NU Suntech to invest Rs 10,000 Cr for solar power project in A P

Vijayawada, Jan 15 (UNI) Reliance NU Suntech Private Limited, a wholly owned subsidiary of Reliance Power Limited, on Wednesday announced plans to invest Rs 10,000 crore fr setting up a Solar power project in Kurnool district of Andhra Pradesh, on a build-own-operate basis.

The project consisting of a 930 MW solar energy contract with 465 MW/1,860 MWh battery energy storage system (BESS) component is Asia’s largest solar and battery energy storage project. The project will guarantee a peak power supply of four hours daily (or four-hour discharge duration).

Reliance NU Suntech secured the largest individual allocation of 930 MW through a competitive e-reverse auction from a total bid capacity of 2,000 MW for interstate transmission system (ISTS)-connected solar projects.

Under joint ownership with SECI, the project is scheduled for commissioning within 24 months of signing the power purchase agreement (PPA). SECI will enter into a 25-year PPA with Reliance NU Suntech, with the solar power generated being supplied to multiple discoms across India.

The project will serve as a significant milestone for southern India, creating 1,000 direct jobs and approximately 5,000 indirect employment opportunities for workers during the construction phase.

The project integrates solar power with advanced energy storage systems, enhancing the reliability and cost-effectiveness of renewable energy. By ensuring a consistent power supply even during periods of low solar generation, the initiative bolsters India’s renewable energy capacity, reduces dependence on fossil fuels, and reinforces Reliance NU Suntech’s leadership in the power generation sector.
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