Shares of Anil Ambani led stocks Reliance Power and Reliance Infra jumped 3 percent and 4 percent respectively in today's trading session. Reliance Infra secured a Letter of Award (LOA) from NHPC, a Navratna PSU, for a 390 MW interstate transmission system (ISTS)-connected solar power project with Battery Energy Storage System (BESS).
Once commissioned, the project is seen adding 700 MW of solar DC capacity and 780 MWh of BESS capacity to Reliance Group’s portfolio, further consolidating its position in new energy solutions. The winning tariff was discovered at Rs 3.13/kWh, placing the project among the most competitive in India’s clean energy transition, Reliance Infra said in a note. Following the development, Reliance Infra share climbed 3.60 per cent to hit a high of Rs 271.85 apiece. This was the third straight day of rise for the ADAG stock.
The project forms part of an NHPC tender that drew bids from 15 participants, of which 14 qualified for the e-reverse auction. The tender was oversubscribed nearly four times, underscoring strong industry appetite for dispatchable renewable energy projects.
Reliance Power, another listed entity of the Reliance Group, already operates a renewable portfolio of nearly 2.5 GW of solar and 2.5 GWh of BESS capacity. With the latest win, the Group’s clean energy pipeline expands to over 3 GWp of solar DC capacity and 3.5 GWh of BESS capacity, making it the country’s largest player in the integrated solar-plus-BESS segment.
Yesterday, Reliance Power announced that its associate company, Reliance Enterprises Pvt. Ltd. (REPL), has set up a new joint venture company in Bhutan. Named GDL–Reliance Solar Pte Ltd (GRSPL), the JV is a 50:50 partnership between Green Digital Private Limited, owned by the Royal Government of Bhutan, and REPL. Incorporated under Gelephu Mindfulness City (GMC), this venture aims to develop clean energy solutions in the Himalayan region. Reliance Power recently reported a net profit of ₹125.6 crore for the fourth quarter ending 31 March 2025. This marks a significant turnaround from a net loss of ₹397.6 crore in the same quarter of the previous fiscal year. The company's revenue from operations saw a slight decline of 1%, settling at ₹1,978 crore compared to ₹1,997 crore in the corresponding period of the prior fiscal year.