Reliance Power Limited announces a mega investment worth Rs 10,000 crore in solar power initiatives in Andhra Pradesh.

The project to invest Rs 10,000 crore in the Andhra-based solar power plant is being managed by Reliance NU Suntech Private Limited, a subsidiary of Reliance Power.

The company aims to kickstart the project after securing a Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI) - apublic sector company under the Government of India.

As per the report, plans are underway to establish a composite solar facility in Kurnool, Andhra Pradesh.

Reliance Power, a part of the Mukesh Ambani-owned Reliance Group, was established to develop, construct, operate and maintain power projects in the Indian and international markets.