Reliance Group plans Rs 180 billion fundraise for energy expansion

Reliance Group has secured board approvals from Reliance Infrastructure and Reliance Power to raise Rs 180 billion through a mix of equity and debt to support its expansion into the power and renewable energy sectors.

According to the company’s release, the fundraising will enable the group to execute its next phase of growth, which includes a strategic focus on clean energy, conventional power, and defence manufacturing.

Reliance Power currently operates a portfolio of about 5.3 GW and has secured 3.3 GWh of solar and battery energy storage system (BESS) projects. These include what the company describes as Asia’s largest solar-plus-storage project.

Reliance Infrastructure, through its distribution arm BSES, supplies electricity to over 5.3 million consumers in Delhi. The company plans to scale up clean energy procurement over the next five years while continuing grid modernisation efforts.

Both firms are nearly debt-free, with combined net worths of over Rs 31,000 crore.