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Rosa Power, a Reliance Power subsidiary, has prepaid ₹485 crore to Varde Partners, clearing its debt entirely. This move strengthens Reliance Power’s balance sheet, aiding its renewable energy ventures.
Reliance Power’s subsidiary, Rosa Power Supply Company Ltd., announced it has fully cleared its debt obligations, achieving zero-debt status. In a significant financial move, Rosa Power prepaid ₹485 crore to Singapore-based lender Varde Partners, settling all outstanding loans ahead of schedule. This recent prepayment follows an earlier debt clearance in September, where the company paid ₹833 crore to Varde Partners, bringing the total prepayment to ₹1,318 crore within a few months. With this achievement, Rosa Power has positioned itself as a debt-free entity, enhancing its financial resilience.
Rosa Power’s prepayment supports Reliance Power’s broader strategy of financial fortification and growth in the renewable energy sector. The recent ₹1,525 crore preferential issue of equity-linked warrants has further strengthened the company’s net worth, raising it from ₹11,155 crore to over ₹12,680 crore. This fortified balance sheet provides Reliance Power with additional resources to explore new opportunities within the rapidly growing renewable energy market.
Rosa Power has been a critical player in meeting the region's energy demands by operating a 1,200 MW coal-based thermal power plant in Rosa village, Shahjahanpur, Uttar Pradesh. Its financial consolidation comes at a time when the energy sector is shifting towards cleaner, green energy. With a debt-free status, Rosa Power is well-positioned to support Reliance Power's expansion plans, including potential investment in sustainable energy sources.
Rosa Power’s debt-free achievement is expected to positively influence the Rosa Power share price, reflecting improved investor confidence. As financial stability often drives investor interest, this milestone strengthens the subsidiary’s market position and supports Reliance Power’s commitment to sustainable growth. The debt prepayment underscores the company’s dedication to fiscal responsibility, likely enhancing its appeal in the stock market.
The achievement of zero-debt status by Rosa Power marks a new chapter for Reliance Power, signalling financial strength and an enhanced capacity to invest in future ventures. With its debt-free balance sheet and strengthened capital, Rosa Power is set to explore new avenues, particularly in renewable energy, aligning with the broader industry trend towards cleaner power solutions. This development not only boosts Rosa Power’s standing but also paves the way for Reliance Power to expand its footprint in the green energy sector, benefiting shareholders and the market alike.
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