Reliance Power shares gain over 3% in early deals, here's why 

Shares of Reliance Power Ltd rose over 3% in early deals on Friday after the ADAG firm said its subsidiary Reliance NU Suntech Private Limited (Reliance NU Suntech), has inked a landmark 25-year long-term Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI), a leading Navratna Central Public Sector Enterprise. 

Reliance Power shares gained 3.25% to Rs 41.28 against the previous close of Rs 39.98 on BSE. Market cap of the firm climbed to Rs 16,216 crore. Total 9.59 lakh shares of the firm changed hands amounting to a turnover of Rs 3.91 crore on BSE.

Reliance Power shares have a beta of 1.2, indicating very high volatility in a year. The stock is trading lower than the 5 day, 10 day, 20 day but higher than the 30 day, 50 day, 100 day, 150 day and 200 day moving averages.

Reliance Power's relative strength index (RSI) stands at 47.3, which signals the stock is trading neither in the overbought nor in the oversold zone. 

"This strategic agreement represents one of the most significant long-term power offtake arrangements in India to date, marking a major milestone in the nation’s transition to clean energy. Reliance Power subsidiary, Reliance NU Suntech is set to develop and commission Asia’s largest single-location integrated solar and battery energy storage system (BESS) project within the next 24 months. The project entails a capital investment of up to Rs 10,000 crore, representing a significant strategic commitment to operational scalability and long-term value creation," said Reliance Power. 

"It aligns with the nation’s ambitious renewable energy targets and further strengthens Reliance Power’s position as a key player in India’s green energy ecosystem. Reliance NU Suntech’s signed Power Purchase Agreement with SECI comprises supply of 930 MW of solar power integrated with 465 MW/1,860 MWh Battery Energy Storage System (BESS), at a competitive fixed tariff of ?3.53 per kWh. To achieve the contracted capacity of 930 MW, the project will deploy more than 1,700 MWp of installed solar generation capacity. This landmark agreement represents a significant step in Reliance Power’s long-term strategy to lead India’s transition to sustainable, low-cost energy solutions," added the Anil Ambani-led firm.