Shares of Anil Ambani’s Reliance Power rose by 2% on Wednesday after its wholly-owned subsidiary, Reliance NU Energies, secured a 750 MW/3,000 MWh Firm and Dispatchable Renewable Energy (FDRE) project from SJVN.A Letter of Award was issued on 10 November. The project has been awarded at a tariff of Rs 6.74 per kilowatt-hour through a competitive online auction. It will include around 900 MWp of solar generation paired with more than 3,000 MWh of Battery Energy Storage Systems (BESS), enabling round-the-clock, dispatchable clean power to distribution companies across the country.
The tender for Firm and Dispatchable Renewable Energy (FDRE) projects attracted strong industry interest with 14 qualified participants and was oversubscribed more than three times, according to industry sources. On the market front, shares of Reliance Power were trading at Rs 42.34 on the NSE in early deals on Wednesday. The company’s market capitalisation currently stands at Rs. 16,882.22 crore. Reliance Power’s 52-week high is Rs. 76.49 (recorded on June 11, 2025), while its 52-week low stands at Rs. 31.30 (recorded on March 3, 2025). The promoters hold 24.98% stake in the company, with institutional investors owning 16.82% and non-institutional shareholders 58.18%.
The company also reported positive Q2 numbers, The Reliance Group company posted a consolidated net profit of ₹87.32 crore for the September quarter of FY26, compared to a loss of ₹352 crore it logged in the corresponding period of the previous fiscal year.The electric power generation firm witnessed a 12.17% YoY surge in its consolidated revenue from operations to ₹1,974.03 crore during the quarter under review.In the second quarter of the 2024-25 fiscal year (Q2FY25), it had clocked a revenue of ₹1,759.81 crore.At an operational level, its EBITDA (earnings before interest, tax, depreciation, and amortisation), also known as operating profit, stood at ₹618 crore in Q2FY26, marking a 64% annual increase from ₹376 crore in the year-ago period.Reliance Power said that its debt-to-equity ratio, which was at 0.87, was among the lowest in the industry, adding that its debt servicing of ₹634 crore in the September FY26 quarter reflected “continued commitment to debt reduction”.