The contract involves the installation of a total of 1,000 MW of autonomous energy. BESS unitsawarded under a build-own-operate (BOO) model for “on-demand” use through a fee-based competitive bidding process.
Reliance Power has secured 500 MW MWh of this capacity, marking a significant entry into the renewable energy and the storage sector, a company spokesman said.
The competitive tender saw Power of trust by submitting a tariff bid of Rs 3,81999 lakh/MW/month, this new tariff reference being one of the lowest tariffs for BESS tenders at the 400 KV level in India till date.
The project delivery point will be the 400 kV Fatehgarh Supply Station (ATL), Rajasthan. The scheduled commissioning date for the full capacity will be 24 months from the date of entry into force of the BESPA (Battery Energy storage Purchase Agreement).
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The auction process involved several key industry players and was held on September 11, 2024, and is part of SECI’s initiative to enhance energy storage capabilities across the country.
Reliance Power shares had seen a sharp fall in their prices after Sebi restricted Anil Ambani from the stock market for five years on charges of embezzlement Reliance Home Finance.
In its 222-page order, the market regulator’s probe concluded that key management personnel of Reliance Home Finance (RFHL), including Anil Ambani, siphoned off funds from the listed company (RHFL) by structuring them as “loans” to credit unworthy conduit borrowers and, in turn, to subsequent borrowers, all of whom have been found to be “promoter-linked entities”.
Later, the company through a filing to the stock exchanges said that Anil Ambani has resigned from the board of Reliance Power and that the SEBI order has no bearing on the company’s operations.
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