India's SECI Issues Major Solar-Plus-Storage Tender to Bolster Grid Stability and Accelerate Renewable Energy Integration
Key Insights
Reliance Power is actively bidding for a 1,500 MW gas-based power project internationally, leveraging readily available equipment for rapid deployment.
The company has partnered with Bhutan's Druk Holding & Investments to develop 500 MW of solar and 770 MW of hydropower projects.
This collaboration represents the largest private Indian investment in Bhutan's renewable energy sector, signaling a strategic focus on clean energy.
Reliance Power aims to monetize assets for up to ₹2,000 crore, supporting its global expansion and significant clean energy pipeline, including 2.5 GWp solar and 2.5 GWh BESS.
Reliance Power Ltd. is embarking on a dual-pronged expansion strategy, actively pursuing a 1,500-megawatt (MW) gas-based power project overseas while simultaneously forging a landmark clean energy partnership in Bhutan. This strategic move positions the Indian energy major for significant international growth and underscores its increasing commitment to renewable energy development.
The company is currently participating in multiple global tenders for the proposed 1,500 MW gas-based power project. Leveraging three 750 MW equipment modules previously imported from General Electric (GE), USA, Reliance Power possesses a unique competitive advantage. One module was already deployed for an LNG-based project in Bangladesh with Japan's JERA, and the remaining two are earmarked for this new overseas venture. This ready availability of critical equipment allows Reliance Power to execute projects in a significantly shorter timeframe, circumventing the typical three-to-five-year delivery periods for gas or LNG-based power plant components from global suppliers. The company has submitted competitive bids for gas-based power projects in high-demand markets such as Kuwait, the UAE, and Malaysia, reflecting a targeted global expansion.
Concurrently, Reliance Power has solidified its clean energy footprint through a strategic partnership with Druk Holding & Investments (DHI), the commercial arm of the Royal Government of Bhutan. This collaboration aims to develop a 500 MW utility-scale solar project and a 770 MW hydropower project within Bhutan. This represents the largest investment by an Indian private company in Bhutan's burgeoning renewable energy sector, highlighting a significant commitment to sustainable development in the Himalayan nation. Reliance Power has initiated the engineering, procurement, and construction (EPC) tendering process, adhering to global competitive bidding norms to ensure technical excellence and cost efficiency. Discussions are also underway with major financial institutions to secure long-term, cost-effective project funding.
Financially, the proposed projects are expected to bolster Reliance Power's balance sheet, with plans to generate up to ₹2,000 crore through asset monetization. A company spokesperson confirmed their participation in global tenders, emphasizing a strategic pivot towards a robust pipeline of renewable and clean energy initiatives. This includes approximately 2.5 gigawatt-peak (GWp) of utility-scale solar projects and over 2.5 gigawatt-hours (GWh) of Battery Energy Storage Systems (BESS), signaling a comprehensive approach to diversified energy solutions.