Reliance Power will build Bhutan’s largest solar power project: Anil Ambani’s company signed the term sheet, shares rose 70% in a year
Anil Ambani’s company Reliance Power will build Bhutan’s largest solar power project. This 500 megawatt (MW) project will be developed in a 50:50 joint venture with a Bhutanese company. About Rs 2000 crore will be spent on this. This project will be the largest private sector foreign direct investment (FDI) in Bhutan’s solar sector till date.
Reliance Power has signed a term sheet with Green Digital Private Limited (GDL), owned by Bhutanese company Druk Holding and Investments Limited (DHI). This project will be completed in a phased manner in the next 24 months.
Electricity will be sold to Green Digital
The company said in a statement, ‘Reliance Power’s total clean energy pipeline in the solar segment is at 2.5 gigawatt peak (GWp), making it India’s largest company in the integrated solar and battery energy storage system (BESS) segment.’
The company said that the electricity will be sold to Green Digital through a long-term agreement. Reliance Power has started searching for contractors through a competitive bidding process to start work on the project.
Recently, the subsidiary company got a solar energy order
Reliance Power’s subsidiary Reliance NU Energies recently won the largest allocation in SJVN’s tariff-based competitive bidding process.
The company received an allocation of 175 MW/700 MWh battery energy storage system with 350 MW solar generation capacity.
The competitive bidding process of government company SJVN Limited is a structured and transparent method. It is used to purchase goods, services or select developers for renewable energy projects such as solar, wind-solar hybrid or hydropower projects.
Reliance Power earns ₹126 crore profit in fourth quarter
The company reported a consolidated net profit of ₹126 crore for the January-March quarter of FY25. The company had a loss of ₹397.56 crore in the same quarter last year. The company’s profit has increased due to reduction in expenses.
Total income during the quarter declined to ₹2,066 crore as compared to ₹2,193.85 crore in the same period last year. Still, a sharp reduction in total expenses from Rs 2,615.15 crore to Rs 1,998.49 crore helped the company turn a profit.
Reliance Power is part of the Anil Ambani-led group
Reliance Power is a leading company in the power generation and distribution sector. It is part of the Anil Ambani-led Reliance Group. Its portfolio includes thermal (coal and gas), renewable (solar, wind and hydro) and battery energy storage systems (BESS).
