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Reliance Power New Project: The year 2025 can be a big year for Anil Ambani. Amid the market decline, a news related to his company Reliance Power has created a stir among investors. In fact, after repaying the loan, Anil Ambani’s company Reliance Power Limited, which is taking steps towards a new beginning, is going to make a big investment. According to reports, Reliance Power will invest more than Rs 10,000 crore in solar power plants and solar manufacturing units in Andhra Pradesh. This project will not only boost India’s renewable energy goals, but will also strengthen Reliance Power in a new direction.
what is the whole matter
According to ET report, Reliance Power’s subsidiary Reliance NU Santec Pvt Ltd has won the contract for the project with 930 MW capacity solar power plant and 1,860 MW battery storage capacity. This project will be established in Kurnool district of Andhra Pradesh and is being described as Asia’s largest solar and battery energy storage project.
The company will invest Rs 6,500 crore for a solar manufacturing facility in Rambili Industrial Area near Visakhapatnam. For this, 1,500 acres of land is being searched. Work on the project will start soon and it is planned to be commissioned in the next 24 months.
employment will also be created
This project will create employment opportunities on a large scale in Andhra Pradesh. There is a possibility of providing 1,000 permanent jobs and about 5,000 temporary jobs. The company claims that this project will be started after signing the power purchase agreement with Solar Energy Corporation of India (SECI).
Let us tell you, after going through bankruptcy in the last few years, Anil Ambani has started settling his debts. A fund called Verde Partners has helped them and has pledged an additional $500 million of equity for future projects. This new beginning not only signals the return of Anil Ambani, but it can also be a part of a major change in India’s energy sector.
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