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Reliance Power is a major company in power generation and distribution sector. It is part of the Reliance Group led by Anil Ambani.
After the fourth quarter results, Reliance Power’s stock rose by 11.25% on Monday, May 12. It climbed Rs 4.35 to close at Rs 43. Reliance Power has a consolidated net profit of Rs 126 crore for the January-March quarter of FY 2024-25.
Subsidiary company gets solar energy order
Reliance NU Energe, a subsidiary of Reliance Power, has won the largest allocation in SJVN’s tariff -based competitive bidding process.
The company has received the allocation of 175 MW/700 MWH battery energy stores system with 350 MW solar production capacity.
Competitive bidding process of government company SJVN Limited is a structured and transparent method. It is used to purchase goods, services or developers for renewable energy projects such as solar, wind-lore hybrid or hydropower projects.
The company’s leadership will be strong in New Energy Solutions
Once operational, this platform will add 600 MWP installed solar PV capacity and 700 MWH energy storage capacity in the portfolio of Reliance Power. This will strengthen its leadership in New Energy Solutions.
The company’s total clean energy pipeline is now on 2.5 GWP solar and> 2.5 GWHR BESS. With this, it has become the largest company in India in the Integrated Solar + Bess segment.
BESS means, battery energy storage systems are a technology that uses batteries to store and release energy.
It is designed to store electricity from renewable sources such as solar or wind and then release it when needed.
Reliance Power Profit for ₹ 126 crore in the fourth quarter
The company recorded a consolidated net profit of ₹ 126 crore for the January-March quarter of FY 25. In the same quarter of last year, the company had a loss of ₹ 397.56 crore. The company’s profit has increased due to the reduction in expenses.
The total income during the quarter declined to Rs 2,066 crore as compared to Rs 2,193.85 crore in the same period last year. Nevertheless, a huge reduction of Rs 2,615.15 crore to Rs 1,998.49 crore in total expenditure helped the company in the profit.
Reliance Power is part of Anil Ambani -led group
Reliance Power is a major company in power generation and distribution sector. It is part of the Reliance Group led by Anil Ambani. Its portfolio includes thermal (coal and gas), renewable (solar, wind and hydro) and battery energy storage system (BESS).
