Reliance Infra share price rallied over 3% in early trade on Tuesday after the company announced the receipt of an order from state-run energy giant NHPC for a solar power project. Reliance Infra shares gained as much as 3.66% to ₹272.00 apiece on the BSE.
Reliance Infrastructure said it has received Letter of Award (LOA) from NHPC for 390 MW interstate transmission system (ISTS) – connected solar power project coupled with Battery Energy Storage System (BESS).
The winning tariff was discovered at ₹3.13 per kWh. The project is part of a broader tender floated by NHPC, which saw participation from 15 entities, with 14 qualifying for the e-reverse auction. The tender was oversubscribed by nearly 4 times, Reliance Infrastructure said in a release on August 19.
Once commissioned, the project will add 700 MWp of solar DC capacity, and 780 MWhr of BESS capacity to Reliance Group’s portfolio, consolidating its leadership in new energy solutions, it added.
“Reliance Power, a listed entity in the Reliance Group, already has a renewable energy portfolio of nearly 2.5 GWp of Solar and 2.5 GWhr of BESS capacity. With the addition of the above capacity, the combined Reliance Group’s clean energy pipeline now stands at more than 3 GWp of Solar DC capacity and over 3.5 GWhr of BESS capacity, making it India’s largest player in the integrated Solar + BESS segment,” Reliance Infrastructure said.
Reliance Infrastructure Share Price Performance
Reliance Infra share price has fallen 31% in one month and 4% in three months. The stock gained 5% over the past six months, while it is down 16% on a year-to-date (YTD) basis. Reliance Infra share price has gained 19% in one year and has rallied 68% in two years. The stock has delivered multibagger returns of 735% in five years.
At 10:30 AM, Reliance Infra share price was trading 3.66% higher at ₹272.00 apiece on the BSE.
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