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Anil Ambani-led Reliance Power Ltd is charting an ambitious global expansion, with plans to set up a 1,500-MW gas-based power project overseas while vying for several international contracts, according to sources.
Reliance Power has submitted competitive bids for gas-based power projects in Kuwait, the UAE, and Malaysia as part of its selective global strategy, as per a PTI report. The company has already secured significant footholds in Bhutan, clinching two mega power projects — a 500-MW solar venture and a 770-MW hydropower project.
Based on the outcome of its ongoing international bids, Reliance Power plans to relocate two 750-MW modules of world-class equipment currently in its possession in India, the report added. The proposed overseas project is expected to create significant value in Reliance Power’s balance sheet, as the company aims to realise up to Rs 2,000 crore through the monetisation of these assets.
A Reliance Power spokesperson confirmed the company’s participation in global tenders to PTI.
Originally, the company had imported three modules of 750-MW world-class equipment from General Electric, USA, for a gas-based combined cycle power project, out of which one module was exported to Bangladesh for an LNG-based power project in partnership with Japan’s JERA.
Now, Reliance Power intends to deploy the remaining two modules for a similar project at an overseas location.
The demand for gas-based power — widely regarded as a clean energy source — is significantly high in countries such as Kuwait, the UAE, and Malaysia. However, global suppliers like GE typically require three to five years to deliver equipment for gas or LNG-based power plants.
In contrast, Reliance Power has 1,500 MW of equipment readily available, enabling it to execute such projects in the shortest possible timeframe.
Reliance Power is actively focusing on renewable and clean energy. The company has a strong development pipeline, including 2.5 GWp of utility-scale solar projects and more than 2.5 GWh of Battery Energy Storage Systems (BESS).
It has also entered into a joint venture with the Bhutan Government’s Druk Holding & Investments (DHI) for the development of a 500-MW solar project and a 770-MW hydropower project in Bhutan. This marks the largest foreign direct investment by an Indian private company in Bhutan’s renewable energy sector.
