Shares of Reliance Infrastructure Ltd surged 4% on Tuesday, 19 August, after the company announced that it had received an order from state-run energy behemoth NHPC for a solar power project. 

Reliance Infrastructure announced that it has obtained a Letter of Award (LOA) from NHPC for a 390 MW interstate transmission system (ISTS)-connected solar power project combined with a Battery Energy Storage System (BESS).

The winning tariff was found at Rs 3.13 per kWh. The project is part of a larger tender issued by NHPC, in which 15 firms participated, 14 of which qualified for the e-reverse auction. The tender was roughly four times oversubscribed, according to a Reliance Infrastructure announcement dated 19 August.

Once completed, the project will add 700 MWp of solar DC capacity and 780 MWhr of BESS capacity to Reliance Group’s portfolio, cementing the company’s leadership in new energy solutions, it said.

In its regulatory filing, the company said, “Reliance Power, a listed entity in the Reliance Group, already has a renewable energy portfolio of nearly 2.5 GWp of Solar and 2.5 GWhr of BESS capacity. With the addition of the above capacity, the combined Reliance Group’s clean energy pipeline now stands at more than 3 GWp of Solar DC capacity and over 3.5 GWhr of BESS capacity, making it India’s largest player in the integrated Solar + BESS segment.” 

At 12:55 pm, the shares of Reliance Infrastructure were trading 4.46% higher at Rs 273.55 on NSE. 

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