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SECI debars Reliance Power and subsidiaries from tenders over fake documents

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The Solar Energy Corporation of India (SECI) has barred Reliance Power (R-Power) and its subsidiaries from participating in its tenders for three years, following the submission of a fake document by R-Power for a SECI tender issued in June.  The notice, released on November 6, under the Ministry of New and Renewable Energy (MNRE), specifies that entities, including Reliance NU BESS Limited and other subsidiaries of Reliance Power, are prohibited from SECI tenders until 2027….

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Rosa Power becomes zero-debt company

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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…

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Reliance Power settles Rs 38.72 billion guarantee for VIPL

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Reliance Power Ltd has announced that it had fully settled its Rs 38.72 billion obligation as a guarantor for Vidarbha Industries Power (VIPL). The settlement has resulted in the release of all corporate guarantees, undertakings, and obligations linked to the outstanding debt. As part of the agreement, 100% of VIPL’s shares have been pledged to CFM Asset Reconstruction, relieving Reliance Power of its corporate guarantee commitments. The company also confirmed it is now debt-free with…