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Reliance Power touches roof on securing 500 MW battery storage contract

Reliance Power Ltd. | Power Generation/Distribution | Power | BSE: 532939 | NSE: RPOWER

18 Sep 2024 Evaluate

Reliance Power is currently trading at upper limit of Rs. 32.98, up by 1.57 points or 5.00% from its previous closing of Rs. 31.41 on the BSE.

The scrip opened at Rs. 32.98 and has touched a high and low of Rs. 32.98 and Rs. 32.98 respectively. So far 4589422 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 38.07 on 23-Aug-2024 and a 52 week low of Rs. 15.53 on 26-Oct-2023.

Last one week high and low of the scrip stood at Rs. 32.98 and Rs. 29.25 respectively. The current market cap of the company is Rs. 13247.97 crore.

The promoters holding in the company stood at 23.24%, while Institutions and Non-Institutions held 15.77% and 60.98% respectively.

Reliance Power has secured a battery storage contract of 500 MW through the e-reverse auction (eRA) conducted by the Solar Energy Corporation of India (SECI). The auction, held on September 11, 2024, is part of SECI's initiative to enhance energy storage capabilities across the country. The contract involves the installation of a total of 1,000 MW of standalone BESS units, awarded on a build-own-operate (BOO) model for ‘On Demand’ usage under a tariff-based competitive bidding process.

The company has secured 500 MW MWh of this capacity, marking a significant entry into the renewable energy and storage sector. The competitive bidding saw Reliance Power submitting a tariff bid of Rs 3.81999 lakh/MW/month. This new tariff benchmark represents one of the lowest rates for BESS tenders at the 400 KV level in India to date.

The delivery point for the project shall be 400 kV Fatehgarh (ATL) PS, Rajasthan. The scheduled commissioning date for the full capacity will be 24 months from the effective date of the BESPA (Battery Energy Storage Purchase Agreement).

Reliance Power has been established to develop, construct and operate power projects both in India as well as internationally.

Reliance Power Share Price

28.55 0.46 (1.64%)

21-Apr-2026 09:39 View Price Chart

Peers

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NTPC	401.50
Tata Power	434.00
Adani Power	205.00
Power Grid Corp	321.85
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Reliance Power touches roof on securing 500 MW battery storage contract

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