Reliance Power Shares Surge 5%

New Delhi: Shares of Reliance Power jumped 5 per cent on Thursday after its subsidiary Reliance NU Suntech won the country’s single largest 930 MW solar project from Solar Energy Corporation of India (SECI). The stock climbed 4.99 per cent to Rs 46.24 on both the BSE and NSE. Reliance NU Suntech, an arm of Reliance Power, has won the country’s single largest 930 MW solar project with 1,860 MWh battery energy storage system from SECI.

The subsidiary has secured the solar with storage project in an e-reverse auction held by SECI on Monday, parent Reliance Power said in a statement on Wednesday. “Reliance NU Suntech has won 930 MW solar energy contract from SECI. This is the single largest project of solar and battery storage system in India,” the company said. As per the terms of the tender, Reliance NU Suntech will also have to install a minimum storage capacity of 465 MW/1,860 MWh charged by solar power.