Reliance Power forms Board of Management to strengthen governance

Reliance Power's board has approved a new Board of Management to strengthen governance and oversight. The company highlighted growth in its subsidiary, Reliance NU Energies, and its position as the largest player in Solar + BESS.

Reliance Power on Wednesday announced that its Board of Directors today approved the constitution of the Board of Management (BOM) comprising the CEO, key managerial personnel, and senior business leaders of the company.

Strengthening Governance and Oversight

The creation of the Board of Management represents a "step in Reliance Power's pursuit of stronger governance, sharper oversight mechanisms and building a more agile and future-ready organization," the company informed stock exchanges in a filing today.

Focus on Growth and Value Creation

"The initiative reflects the Company's commitment to adopting best-in-class governance practices that support long-term value creation for all stakeholders. Reliance Power also highlighted the emerging growth opportunities within its subsidiary, Reliance NU Energies," the stock exchange filing read.

Renewable Energy and Operational Capacity

The Company also said it has emerged as the largest player in Solar + BESS (Battery Energy Storage Systems) on a competitive bid basis, with an awarded capacity of up to 4 GW of solar and up to 6.5 GW of BESS. Reliance Power Limited, part of the Reliance Group, is a power generation company. According to the company, it has an operating portfolio of 5,305 megawatts, which includes 3,960 megawatts Sasan Power Limited (the world's largest integrated coal-based power plant). (ANI)

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