• Source:JND
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Reliance Power share price rose 5 per cent to hit the upper circuit in the early hours on Thursday after its subsidiary Reliance NU Suntech won the country's largest solar project of 930 MW from Solar Energy Corporation of India (SECI). The stock rose 4.99 per cent to Rs 46.24 on both the BSE and NSE in early trade. At around 12:01 P.m., the shares of Reliance Power were trading at Rs 46.0, up 4.45% on NSE, while on BSE, the stock was trading at Rs 46.04, up 4.54 per cent against the previous day's closing price. On Tuesday, the stock closed at Rs 44.04.

In the last 7 days, the Anil Ambani-led power stock surged over 7 per cent, while in a month it soared up to 20 per cent (Including today's early hour gain). 

Anil Ambani led Relaince Power's Subsidiary Bags Country's Largest Solar Project

Reliance Power's subsidiary Reliance NU Suntech has won the nation's biggest solar project of 930 MW with a 1,860 MWh battery energy storage system from SECI. Parent Reliance Power said in a statement that the subsidiary secured the solar storage project in a reverse electronic auction carried out by SECI on Monday.

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According to the tender conditions, Reliance NU Suntech will also have to install a minimum storage capacity of 465 MW/1860 MWh charged by solar energy. The 465MW/1860MWh energy storage system implies that 465MW of battery energy can deliver backup power for 4 hours, providing a total output of 1860MW.
Reliance NU Suntech secured the project at a tariff of Rs. 3.53 per kWh. The Letter of Award (LoA) from SECI is pending.

Reliance NU Suntech has developed the project on a build-own-operate basis and will connect it to the Inter-State Transmission System (ISTS) as per the Central Electricity Regulatory Commission (CERC) norms for connection with ISTS.

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(With Input from PTI)