Reliance Power Arm Rosa Becomes Zero-Debt Firm

New Delhi, Nov 6 (PTI) Reliance Power on Wednesday said its arm Rosa Power Supply Company has prepaid another Rs 485 crore debt to Singapore-based lender Varde Partners and become zero-debt company.

With this, Rosa Power has achieved a zero-debt status, fully settling its outstanding debt by payment of Rs 1,318 crore to Varde ahead of the original schedule, a company statement said.

In September, Rosa Power had prepaid Rs 833 crore to Varde Partners.

Rosa Power 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 Rs 1,525 crore equity linked warrants preferential issue, will support Reliance Power in pursuing business opportunities, in the fast-growing green energy sector, it stated.

This preferential issue will boost the company's net worth from Rs 11,155 crore to over Rs 12,680 crore.

Reliance Power, a part of Reliance Group, is a private sector power generation and coal resources company.

The company has one of the largest portfolios of power projects in the private sector, based on coal, gas, hydro and renewable energy, with commissioned portfolio of 5,300 megawatts.