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This comes days after Reliance Power entered into a strategic collaboration with Druk Holding and Investments Ltd (DHI), the Royal Government of Bhutan’s investment arm, to co-develop the
country’s largest solar power plant.
Shares of Reliance Power opened at ₹44.89 against their previous closing price of ₹44.58 on the BSE. The stock jumped 18.75% to hit a high of ₹52.94, taking the power producer’s market
capitalisation to over ₹21,000 crore.
“The heightened activity in the power sector and also the tailwinds of the power sector have been helping Reliance Power,” said Kranthi Bathini, Director, Equity strategy, WealthMills
Securities.
Bathini, however, cautioned that the stock is “suitable only for high-risk-appetite investors” and not for low-risk-appetite investors, especially retail traders. “We don't know for how many
days this positive momentum is going to continue,” he said.
Reliance Power and Druk Holding and Investments will enter into a 50:50 joint venture to set up a solar power plant with a planned capacity of 500 megawatts (MW). The Anil Ambani-led firm
has also signed a preliminary agreement for a long-term power purchase deal with Green Digital Pvt Ltd (GDL), a subsidiary of DHI.
This solar venture, which follows the Build-Own-Operate (BOO) model, involves an investment of up to ₹2,000 crore. It represents the most substantial foreign direct investment (FDI) by a
private entity in Bhutan’s solar energy industry to date.
Reliance Power stated that this landmark project will be instrumental in boosting regional renewable energy integration and enhancing cross-border energy infrastructure cooperation within
South Asia.
The company emphasised that this deal underlines its ongoing commitment to investing in impactful, long-term clean energy projects and reinforces its strategic role in the regional energy
infrastructure ecosystem.
To advance the project, Reliance Power has initiated the engineering, procurement, and construction (EPC) bidding process in line with global competitive standards to ensure optimal
technical delivery and cost-effectiveness. Additionally, the company is engaging with top-tier financial institutions to design sustainable, long-term financing arrangements aimed at
maximising capital efficiency and project viability.
The solar project will be executed in phases over a 24-month period and will align with Bhutan’s sustainability goals and the broader regional energy transition objectives of South Asia.
Once completed, it will significantly elevate Bhutan’s solar power capacity beyond existing levels, helping diversify the country’s renewable energy mix beyond hydropower and enhance energy
grid resilience.
Reliance Power’s clean energy development portfolio currently includes 2.5 GW of solar power and more than 2.5 GWh of Battery Energy Storage Systems (BESS).
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