Rosa Power prepays ₹485 crore loan to Varde Partners

Rosa Power Supply Company Ltd., a subsidiary of Reliance Power Ltd. said it has prepaid ₹.485 crore loan to Singapore-based lender Varde Partners.

“By prepaying this loan, Rosa Power, has achieved a zero-debt status, fully settling its outstanding debt by payment of ₹1,318 crore to Varde ahead of the original schedule,” Reliance Power said in a statement.

Earlier in September, Rosa Power had prepaid ₹833 crore to Varde Partners. It operates a 1,200 MW coal-based thermal power plant in Rosa village near Shahjahanpur, Uttar Pradesh.

“The strengthening of Rosa Power’s balance sheet, along with a recent ₹1,525 crore equity linked warrants preferential issue, will support Reliance Power in pursuing business opportunities, in the fast-growing clean green renewable energy sector,” Reliance Power said in a statement.

“This preferential issue will boost the company’s net worth from ₹11,155 crore to over ₹12,680 crore,” it added,

Published - November 06, 2024 11:52 pm IST