Mumbai, December 30, 2024: Reliance Power, led by Anil Ambani, announced that its subsidiary, Rosa Power Supply Company Limited, has secured a ₹3,760 crore term loan from Power Finance Corporation Limited (PFC). The definitive agreement for this substantial financing was executed on December 27, 2024. The funds are allocated for general corporate purposes, including investments in renewable energy initiatives and the installation of flue gas desulfurization systems at the Rosa Power plant.
This development comes on the heels of Rosa Power achieving a significant milestone of becoming a zero-debt company. In November, it prepaid a ₹485 crore loan to Singapore-based Varde Partners, showcasing strong financial management. As of June 30, 2024, Reliance Power’s consolidated net worth stands at ₹11,155 crore, underlining its robust financial position.
In the stock market, Reliance Power has experienced remarkable growth, with its share price climbing approximately 50% in the last six months and nearly 90% throughout 2024. This strategic financing is expected to further enhance Reliance Power’s push into renewable energy projects and strengthen its operational capabilities, cementing its position in India’s energy sector.
