Rosa Power Supply Company, a subsidiary of Reliance Power, has achieved zero-debt status after prepaying Rs 13.18 billion to Singapore-based lender Varde Partners.
The company initially paid Rs 8.33 billion in September, followed by the remaining Rs 4.85 billion to complete its debt repayment ahead of schedule. The loan, taken in 2022 for refinancing and cost reduction, has now been fully cleared.
Reliance Power is concurrently enhancing its financial stability through a Rs 15.25 billion preferential issue, approved by the board last month. Over Rs 6 billion of this funding came from Reliance Infrastructure, with additional contributions from Authum Investment and Infrastructure and Sanatan Financial Advisory Services. The issue is expected to boost Reliance Power’s net worth from Rs 111.55 billion to over Rs 126.8 billion.
Rosa Power operates a 1,200 MW coal-based thermal plant in Shahjahanpur, Uttar Pradesh. The zero-debt achievement follows Reliance Power’s debt-clearing milestone last month, where it repaid Rs 38.72 billion as a guarantor for Vidarbha Industries Power, releasing all related corporate guarantees and obligations.