2 days Ago By [email protected] (Business Desk)
Published 09:09 IST, January 2nd 2025 Reliance Power’s subsidiary, Sasan Power Limited, repaid $150 million to IIFCL, UK, bolstering its financial stability. Anil Ambani-led Reliance Power is in the spotlight today after its subsidiary, Sasan Power, made a debt payment to IFFCL, UK. The company shared this update during market hours on Wednesday.
Following the announcement, the stock surged over 4% yesterday. Sasan Power Clears $150 Million Debt Sasan Power, a subsidiary of Reliance Power made a $150 million (approx. Rs 1,284.
6 crores) bullet repayment to IIFCL, UK, fulfilling its debt obligations on December 31, 2024. This move fortifies its financial position, improving debt coverage metrics, liquidity, and credit ratings. ‘Sasan Power Limited (Sasan Power), a subsidiary of Reliance Power Limited (Reliance Power), has made a bullet payment of US$150 million to IIFCL, UK, fulfilling its debt obligation on 31 December 2024.
This repayment will bolster Sasan Power’s debt coverage metrics, improve liquidity, and enhance its credit rating,’ as mentioned in the exchange filing. The loan repayment reinforces Reliance Power’s balance sheet as the company shifts its focus toward the renewable energy sector, a key driver of future growth. Previously, its subsidiary, Rosa Power, had prepaid Rs 850 crore in debt to Singapore-based lender Värde Partners.
About Susan Power Operating the 3960 MW Ultra Mega Power Plant (UMPP) in Sasan, Madhya Pradesh—the world’s largest integrated coal-based power plant—Sasan Power is a pivotal energy provider for India. With a captive coal mining capacity of 20 MTPA, the plant supplies electricity at a record low tariff of Rs. 1.
54 per unit, benefitting over 40 crore people across seven states. For seven consecutive years, Sasan Power has been ranked as India’s best-performing power plant, serving 14 distribution companies (DISCOMs) in Madhya Pradesh, Uttar Pradesh, Rajasthan, Punjab, Haryana, Uttarakhand, and Delhi. The plant’s reliability and cost efficiency underscore its vital role in the country’s energy infrastructure.
Reliance Power Net Worth The company, now debt-free, recently raised Rs. 1,525 crore through equity-linked warrants in a preferential issue, boosting its net worth to over Rs. 15,000 crore.
Updated 09:09 IST, January 2nd 2025.
