With the stock rising more than 20% in a single month and 55% in three, Reliance Power's share price has produced impressive results. In just six months, the price of Reliance Power's stock has increased by over 46%, and year-to-date (YTD) gains have exceeded 93%.
Following the announcement that its subsidiary had received an order from Solar Energy Corporation of India (SECI), Reliance Power's share price was locked in at a 5% upper circuit price of ₹46.24 per share on Thursday.NU Reliance In an e-reverse auction on December 9, 2024, Suntech, a Reliance Power subsidiary, was awarded a 930 MW solar energy contract with battery energy storage system project (BESS) by the SECI.
Reliance NU Suntech will also need to install a minimum storage capacity of 465 MW/1,860 MWh powered by solar energy in accordance with the tender's criteria. Reliance Power stated in a regulatory filing on December 11 that it is awaiting the Letter of Award (LoA) from SECI.
Reliance NU Suntech's victorious bid for SECI's Tranche XVII auction was won at a tariff of ₹3.53 ($0.0416)/kWh, according to the Anil Ambani-led business.
Out of the five firms competing for a total quoted capacity of 2,000 MW of Inter-State Transmission System (ISTS) connected solar power projects with 1,000 MW/4,000 MWh energy storage systems, the company, one of India's top power providers, was awarded the greatest individual allocation.
Reliance NU Suntech's victorious bid for SECI's Tranche XVII auction was won at a tariff of ₹3.53 ($0.0416)/kWh, according to the Anil Ambani-led business.
Out of the five firms competing for a total quoted capacity of 2,000 MW of Inter-State Transmission System (ISTS) connected solar power projects with 1,000 MW/4,000 MWh energy storage systems, the company, one of India's top power providers, was awarded the greatest individual allocation.
"The project will ensure a four-hour daily peak power supply (or a four-hour discharge duration)." Reliance NU Suntech and SECI will sign a 25-year power purchase agreement (PPA), and the solar energy acquired would be distributed to several Indian discoms, according to Reliance Power.
Dependency NU According to the statement, Suntech will build the project using a build-own-operate model and must connect to the interstate transmission system in accordance with the Central Electricity Regulatory Commission's rules in order to link to the ISTS or InSTS.
The injunction prohibiting Reliance Power from participating in renewable energy tenders was revoked by the Solar Energy Corporation of India (Seci) last week.
Trend of Reliance Power's share price
Dependency NU According to the statement, Suntech will build the project using a build-own-operate model and must connect to the interstate transmission system in accordance with the Central Electricity Regulatory Commission's rules in order to link to the ISTS or InSTS.
The injunction prohibiting Reliance Power from participating in renewable energy tenders was revoked by the Solar Energy Corporation of India (Seci) last week.
Trend of Reliance Power's share price
With the stock rising more than 20% in a single month and 55% in three, Reliance Power's share price has produced impressive results. In just six months, the price of Reliance Power's stock has increased by over 46%, and year-to-date (YTD) gains have exceeded 93%. This contrasts with the 6.4% six-month gain and 13% year-to-date surge of the market benchmark Sensex.
On October 4, 2024, Reliance Power's stock reached a 52-week high of ₹54.25 per share, and on March 14, 2024, it fell to ₹19.37 per share on the BSE.
On the BSE, Reliance Power's shares were still trading at a 5% upper circuit price of ₹46.24 a share at 9:20 AM.
On the BSE, Reliance Power's shares were still trading at a 5% upper circuit price of ₹46.24 a share at 9:20 AM.
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