Anil Ambani-led Reliance Power Limited has submitted competitive bids for gas-based power projects in Kuwait, UAE and Malaysia, where it intends to set up a 1,500-MW power project as part of its selective global expansion strategy.
Now that the company is nearing its debt-zero status, it is actively participating in many international tenders to focus on clear energy, a move that has been confirmed by a Reliance Power spokesperson.
The proposed project is expected to create significant value in Reliance Power's balance sheet, as the company aims to realise up to ₹2,000 crore through the monetisation of these assets.
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The company has already ventured overseas with two mega power projects in Bhutan – a 500 MW solar project and a 770 MW hydropower project – after entering into a joint venture with the Bhutan Government’s Druk Holding & Investments (DHI). This marks the largest foreign direct investment by an Indian private company in Bhutan’s renewable energy sector.
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.
With Reliance Power already in possession of 1,500 MW of world-class equipment, it considers itself in a strong position to execute such projects in the shortest possible timeframe based on the outcome of the ongoing international bids.
Originally, the company had imported three modules of 750 MW 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.
Since global suppliers like GE typically require 3 to 5 years to deliver equipment for gas or LNG-based power plants, Reliance Power intends to deploy the remaining two modules in its possession for a similar project at an overseas location.
The company has a strong development pipeline, including 2.5 GWh of utility-scale solar projects and more than 2.5 GWh of Battery Energy Storage Systems (BESS). This positions Reliance Power as the largest private sector player in the integrated solar + BESS segment in India.
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