• Source:JND
Add as a preferred

R Power Share Price: Following the company's successful completion of a major renewable energy contract, investor optimism was reflected in the sharp increase in shares of Anil Ambani's Reliance Power on the BSE on Monday. The stock reached a 52-week high of Rs 61.95 during intraday trading at around 10:30 AM, up Rs 3.62 or 6.22%.

The rally follows Reliance NU Energies, a subsidiary of Reliance Power, winning a significant contract from state-run Navratna PSU SJVN for a 350 MW solar and 175 MW/700 MWh battery energy storage system (BESS). This project is a component of the larger 2,400 MWh BESS and 1,200 MW solar tender offered by SJVN.

The level of competition is what makes the win more noteworthy; 18 developers participated in the tender, which was four times oversubscribed, demonstrating the growing industry confidence in scalable green energy infrastructure.

The project will run at a fixed tariff of Rs 3.33 per kWh and is awarded for a 25-year period. When finished, it will increase Reliance Power's portfolio by about 700 MWh of BESS and 600 MW of new solar DC capacity. The company will now have the largest renewable energy pipeline in India, with 2.4 GW of solar and 2.5 GW of battery storage.

This is a developing story..