
Shares of Anil Ambani-led Reliance Power Ltd are in focus on Monday morning as the company is eyeing a bold international push, with plans to establish a 1,500-MW gas-based power plant overseas and bid for several global contracts, according to sources.
From a 52-week low of Rs 25.76 in July last year, Reliance Power shares are up 168 per cent and last closed at Rs 69 apiece. The multibagger stock has gained 1,457 per cent in the past five years.
As part of its focused global strategy, Reliance Power has submitted competitive bids for gas-based power projects in Kuwait, the UAE, and Malaysia, a PTI report said. The company has already made notable inroads in Bhutan, having secured two major projects — a 500-MW solar power plant and a 770-MW hydropower venture.
Reliance Power plans to redeploy two 750-MW modules of high-end equipment currently held in India for its proposed overseas gas-based power project, depending on the outcome of its ongoing international bids, according to the report. The project is expected to significantly boost the company’s balance sheet, with Reliance Power targeting up to ₹2,000 crore through asset monetisation.
A company spokesperson confirmed to PTI that Reliance Power is actively participating in global tenders.
The equipment in question includes three 750-MW modules originally imported from General Electric, USA, for a domestic gas-based combined cycle power project. Of these, one module was already exported to Bangladesh for an LNG-based power project in collaboration with Japan’s JERA. The company now intends to utilise the remaining two modules for a similar venture at an overseas site.
A Reliance Power subsidiary, Reliance NU Energies recently received the Letter of Award (LOA) from SJVN Limited, a Navratna CPSE, for a 350 MW inter-state transmission system (ISTS)-connected solar power project coupled with a 175 MW/700 MWh Battery Energy Storage System (BESS).
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.
The company’s total clean energy pipeline 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 + BESS segment.