Why Is Anil Ambani’s Reliance Infra Share Price Rising on August 19?

Reliance Infrastructure Limited (Reliance Infrastructure) has announced it has received a Letter of Award (LOA) from NHPC, a leading Navratna Public Sector Enterprise, for a significant solar power and Battery Energy Storage System (BESS) project. 

This win positions the Reliance Group as India’s largest player in the integrated Solar + BESS segment, with a combined clean energy pipeline of more than 3 GWp of Solar DC capacity and over 3.5 GWhr of BESS capacity.

Reliance Renewable Expansion Milestone

The project involves a 390 MW inter-state transmission system (ISTS) - connected solar power project coupled with Battery Energy Storage System (BESS). Once commissioned, it will add 700 MWp of solar DC capacity and 780 MWhr of BESS capacity to Reliance Group’s portfolio.

Key details of the project and its implications include:

• Competitive Tariff: The winning tariff for the project was discovered at ₹3.13/kWh, highlighting its competitive pricing within India’s energy transition landscape.
• Tender Participation: The project was part of a broader tender floated by NHPC, which saw participation from 15 entities, with 14 qualifying for the e-reverse auction. The tender was oversubscribed by nearly 4 times, indicating strong industry interest in dispatchable renewable energy solutions.
• Consolidated Leadership: With this addition, the Reliance Group's clean energy pipeline, which includes the existing portfolio of Reliance Power (nearly 2.5 GWp of Solar and 2.5 GWhr of BESS capacity), now significantly expands its footprint in the new energy landscape.
• Strategic Vision: This successful bid underscores Reliance Group’s continuous progress and commitment to becoming a leading player in India’s renewable energy sector. It represents a significant milestone in the Group’s strategic vision to transition toward cleaner energy sources and play a pivotal role in shaping the country’s sustainable energy future.

Reliance Infrastructure Share Price

On Tuesday, Reliance Infrastructure share price jumped over 3% after receiving an LOA from NHPC for a significant solar power and Battery Energy Storage System (BESS) project. As of 11:03 am IST, the stock price was trading at ₹270.6 per share, up by 3.34%

Disclaimer: The article is for informational purposes only and not investment advice.