Reliance Power Limited’s subsidiary, Rosa Power Supply Company Limited (Rosa Power), has reached a major financial milestone by achieving zero-debt status. The company prepaid a loan of Rs. 485 crore to Singapore-based Varde Partners, bringing its total prepayment to Rs. 1,318 crore. This move strengthens Rosa Power’s balance sheet significantly.
Earlier in September, Rosa Power had prepaid Rs. 833 crore to Varde Partners as part of its debt-clearing efforts. The company operates a 1,200 MW coal-based thermal power plant located in Rosa village near Shahjahanpur, Uttar Pradesh.
Reliance Power’s recent preferential issue of equity-linked warrants, worth Rs. 1,525 crore, is set to boost the company’s net worth from Rs. 11,155 crore to over Rs. 12,680 crore. This strengthened financial position and debt-free status align with the company’s strategy to invest in the clean and green renewable energy sector. Furthermore, Reliance Power, as a listed entity, now has zero bank debt, enhancing its ability to pursue growth opportunities in sustainable energy solutions.
