Reliance Power of Reliance ADA Group has signed US$8.29 billion deal on 27 October 2010 with Shanghai Electric Group for the supply of power equipment and related services over a 10-year period. The Group has also signed an MoU for US$12 billion financing syndicated by Chinese institutions and banks. The size of the contract makes it the world's single-largest order for key components -- boiler, turbine and generator -- for coal-fired power plants. The equipment aggregates a capacity of 23,700 mw and makes up almost two-thirds of SEC's supplies outside China.

Similar equipment worth US$1.7 billion was signed by Reliance Power with Shanghai Electric for its Sasan, Rosa and Buti-Bori projects earlier. Mr. Anil Ambani said at the deal-signing ceremony "It is a milestone in India- China business relations. It is also a multi-dimensional deal in which key Chinese financial institutions and banks are financing. ADAG is happy to contribute to efforts of the two governments in enhancing bilateral trade.”

As per this contract, Shanghai Electric will sell 36,660 MW thermal power generation units, as well as spare parts for Krishnapatnam，Chitrangi and Tilaiya power projects of Reliance at the rate of three to four units a year starting from 2011. R-Power plans to increase its capacity to 25,000 mw by 2015 from 600 mw, adding 5,000 mw over the next two years.

Shanghai Electric has said that this contract is its largest and will enhance its market share in India's power market, bringing annual sales revenue of about US$500 million to US$600 million, or 6 to 7 % of its total revenue for 2009. Shanghai Electric has recorded a 33.2 percent year-on-year increase in the third quarter with a profit of RMB 945 million (US$142 million).