Fri Nov 08 03:24:01 UTC 2024: ## Reliance Power Subsidiary Achieves Debt-Free Status
**Shahjahanpur, Uttar Pradesh:** Reliance Power, a subsidiary of Anil Ambani’s Reliance Group, has achieved a significant milestone by becoming debt-free. Its arm, Rosa Power Supply Company, has prepaid its remaining debt of Rs 1,318 crore to Singapore-based lender Varde Partners, ahead of schedule.
Rosa Power operates a 1,200 MW coal-based thermal power plant in Rosa village near Shahjahanpur, Uttar Pradesh. The company had previously prepaid Rs 833 crore to Varde Partners in September.
This achievement follows a recent equity-linked warrants preferential issue of Rs 1,525 crore, which has boosted Reliance Power’s net worth from Rs 11,155 crore to over Rs 12,680 crore.
The company’s strong balance sheet and recent financial maneuverings will allow Reliance Power to actively pursue opportunities in the rapidly growing green energy sector, as stated in a company statement.
Reliance Power is a prominent player in the private sector power generation industry, with a portfolio of coal, gas, hydro, and renewable energy projects. The company currently has 5,300 megawatts of commissioned power projects.
This news comes as a positive development for Anil Ambani’s Reliance Group, marking another step towards financial stability for the company.
First Piper 