Reliance Power shares surged to a 5% top line for the 11th straight day, hitting a 7-year high

Shares of Reliance Power continued to rally on Thursday, touching a 5% high for the 11th consecutive session at ₹53.65 per piece – the highest level since January 2018.

The company’s shares rose 71% during that period, helped by the company’s transition to a near-debt-free environment and aggressive expansion in the renewable and green energy sectors.

As part of its expansion plans, the company announced a trip to Bhutan on October 2 to develop solar and hydropower projects.

Anil Ambani-led Reliance Group has announced a significant partnership with Druk Holding and Investments Ltd. (DHI), the investment arm of the Royal Government of Bhutan, to improve the country’s renewable energy landscape.

The aim of this cooperation is to develop large-scale solar and hydropower projects, including a 500 MW solar power plant and a 770 MW hydroelectric project. To oversee these operations, the group has formed a new company, Reliance Enterprises, which focuses on clean energy investments and smart energy solutions in Bhutan.

The 500 MW solar project, located in Gelephu Mindfulness City, will be implemented in two phases over the next two years and, upon completion, will constitute the largest solar PV installation in Bhutan.

At the same time, the Chamkharchhu-1 hydro project, classified as an in-stream project, will further enhance Bhutan’s existing power generation capacity. This partnership represents the largest foreign direct investment (FDI) by an Indian private company in the renewable energy sector in Bhutan, the company said in its regulatory filings.

Reliance Enterprises is a joint venture between Reliance Infrastructure and Reliance Power, exclusively dedicated to promoting and investing in the renewable energy sector in Bhutan.

Stellar revival

Shares of Reliance Infrastructure and Reliance Power recorded a strong rebound in September, closing the month with gains of over 60%.

Led by Anil Ambani, Reliance Group is a large conglomerate with a diversified presence in many sectors of the economy. Its key ventures include Reliance Power, India’s leading power generation company, with a total installed capacity of 5,340 MW, including the 4,000 MW Ultra Mega Power project in Sasan, Madhya Pradesh – currently the largest integrated thermal power plant in the world.

Meanwhile, another major company from the Anil Ambai group operates in the energy sector – Reliance Infrastructure, focusing on power distribution and power generation in Delhi. The company also has interests in defense manufacturing and has played a key role in infrastructure development through special purpose vehicles (SPVs), including projects such as the Mumbai Metro and various airport investments.

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