Reliance NU Energies gets letter of award for 350 MW solar project from SJVN
Reliance Power
on Wednesday said its arm
Reliance NU Energies
has received a letter of award for a 350 MW solar power project coupled with a 175 MW/700 MWh Battery Energy Storage System from
SJVN
.
Once commissioned, the platform will add 600 MW of solar DC capacity, and 700 MWh of BESS capacity to Reliance Power's portfolio, consolidating its leadership in new energy solutions, a company statement said.
The company's total
clean energy
pipeline now stands at 2.4 GW of Solar DC capacity and over 2.5 GWH of BESS capacity, making it India's largest player in the integrated
Solar and BESS segment
, it stated.
Reliance NU Energies had earlier emerged as the successful bidder in the competitive auction conducted by SJVN, securing the project at a fixed tariff of Rs 3.33/kWh for a period of 25 years.
The project was part of a larger 1,200 MW solar and 600 MW/2,400 MWh BESS tender, which attracted participation from 19 developers, with 18 qualifying for the final e-reverse auction.
Live Events
The tender was oversubscribed by more than 4 times, reflecting heightened industry interest in dispatchable renewable energy solutions.
Reliance Power, part of the Reliance Group, is one of India's leading private sector power generation companies.
The company has an operating portfolio of 5,305 megawatts, that includes 3,960 megawatts Sasan Power Ltd -- world's largest integrated coal based power plant. PTI
Economic Times WhatsApp channel
)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
44 minutes ago
- Time of India
Chandigarh MC to invite bids for roundabout revenue project again
Chandigarh: The MC, which has received only one bid for its ambitious project of introducing the revenue model for roundabouts in the city, has no option left but to float project tenders again. The civic body received 28 bids for the project to maintain roundabouts and generate revenue through them. However, during scrutiny, only one was found eligible, leaving the MC with no option but to recall the tender. "The rejected bids did not fulfil laid-down criteria. Lack of required documents was found to be the key reason for disqualification. In a few cases, issues related to financial payment documents were found to be insufficient in the tender documents. Now, the tender will be called again in a fresh manner, asking interested bidders to come up with all the required documents," sources said. The matter has already been discussed in the monthly general house meeting in the past. House members approved the request for proposal (RFP) and gave permission to float the RFP inviting bids from prospective agencies to outsource maintenance and beautification of roundabouts along with display of advertisements under the jurisdiction of the MC. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Tìm hiểu thêm Undo The civic body hopes to earn sizeable income through the project. The MC expects to earn an annual income of Rs 3 crore to Rs 4 crore from approximately 30 to 35 roundabouts of the city. As per the plan, the authority has decided to give the roundabouts to successful bidders initially for a period of two years, extendable for another year as per laid-down terms and conditions. MC field engineering officers will check the roundabouts frequently to ensure that they are being maintained as per norms. The exercise to give the roundabouts to private players is part of the MC's revenue generation exercise, which was shared with the Governor of Punjab and Administrator of Chandigarh a few months back.
Time of India
an hour ago
- Time of India
As commissions fall, flat fee reshapes ride-hailing
Bengaluru: Ola has introduced a nationwide flat fee model for its cab-hailing business, allowing drivers to retain 100% of their earnings after paying a fixed daily access charge of Rs 67. This move replaces the long-standing commission structure, where platforms deducted 20%-30% per trip, marking a significant shift in India's ride-hailing economics. Internally, senior Ola executives acknowledge that the move is as much a response to intensifying market pressure as it is an attempt to win back disenchanted drivers. "Why Ola did this is because it is rapidly losing market share, and the network effect of supply and demand was waning for us. It's a race to the bottom, a desperate hail mary. It will eat up margins," one senior executive said. To make the math work, Ola has implemented sweeping cost cuts, shutting down its acquisition team that was 1,000 strong at its peak, reducing incentives, and relying more on automation. "We charged 20% commissions earlier, but nearly half of it went back to customer and driver incentives. In the flat fee model, we cut down incentives significantly and eliminated that cost base, making room for more tech-driven efficiency. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Bu klimaların fiyatı inanılmaz – Sıcaklar bastırmadan bakın! Klimalar | Arama reklamları Şimdi Keşfet Undo These changes help us retain the same revenue potential per ride," another senior executive said. According to Saurav Kumar Chachan, associate partner at RedSeer, India's ride-hailing market is dominated by cabs, which account for roughly 50-55% of gross merchandise value (GMV), followed by auto rickshaws at about 35% and two-wheelers making up roughly 10-12%. In the top seven cities, average fares range from Rs 300-400 per trip, while in smaller cities, the average is closer to Rs 200-250. "Drivers in top metros typically complete about eight trips per day and work roughly 25 days a month, totalling around 220–240 trips per month," Chachan said. At an average fare of Rs 300 per trip, this translates to gross earnings of roughly Rs 2,400 per day or Rs 60,000 per month. Under the traditional 25% commission model, that meant a net income of roughly Rs 1,800 per day and Rs 45,000 per month for the driver. Under the new Rs 67 a day flat fee structure, net earnings rise to roughly Rs 2,333 per day and Rs 58,325 per month, offering higher potential income for active drivers. While the shift improves earnings potential for experienced drivers, it also shifts more risk to their side. "Flat fee ride-hailing models promise drivers full control over earnings, but also shift financial risk away from platforms," said Pratik Shah, partner at EY Parthenon. "For experienced drivers in high-demand areas, it can yield higher take-home pay. But for newcomers or those in low-traffic zones, it may feel more like exposure than empowerment. " Flat-fee pricing has had mixed results globally. In markets like Latin America and Southeast Asia, it has worked well in dense, high-frequency environments but faltered where trip densities remain low. According to Shah, long-term viability will hinge on platforms bundling fixed pricing with ancillary services, from insurance and financing to fuel cards and advertising, making it closer to a SaaS-like model for drivers. Ola, Uber, and Rapido are the only pan-India scaled cab-hailing platforms, and their pricing strategies have long shaped industry dynamics. Uber has so far stuck with the traditional commission model, making Ola's shift a test case for the sector. For Ola, the shift reflects both urgency and a bet that realigning incentives can restore its competitive edge.
Time of India
an hour ago
- Time of India
India Cements to sell Industrial Chemicals to Mirai for 98 crore
CHENNAI: India Cements is selling its subsidiary Industrial Chemicals and Monomers (ICML) to Mirai Sensing for Rs 97.7 crore. The company will enter into an agreement with Chennai-based Mirai Sensing and complete the sale within six months from the date of agreement, India Cements informed the stock exchange. India Cements board at its meeting, on Saturday, approved the sale of its entire equity investment held in ICML. After completion of the sale, ICML would cease to be its subsidiary, the regulatory filing added. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
