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New Delhi, <keyword id="20024191" type="General" weightage="20" keywordseo="reliance-power" source="keywords">Reliance Power</keyword> on Wednesday said its two subsidiaries have settled debt worth Rs 1,023 crore with <keyword id="21096657" type="General" weightage="20" keywordseo="authum-investment" source="keywords">Authum Investment</keyword>'s arm <keyword id="20367976" type="General" weightage="20" keywordseo="reliance-commercial-finance" source="keywords">Reliance Commercial Finance</keyword>. <keyword id="20441864" type="General" weightage="20" keywordseo="reliance-power-ltd" source="keywords">Reliance Power Ltd</keyword>'s two subsidiaries -- Kalai Power Pvt Ltd and Reliance Cleangen Ltd, have signed a debt settlement and discharge agreement with <keyword id="20367975" type="General" weightage="20" keywordseo="reliance-commercial-finance-ltd" source="keywords">Reliance Commercial Finance Ltd</keyword> (RCFL), a wholly-owned subsidiary of Authum Investment &amp; Infrastructure Limited, a regulatory filing said. In a stock exchange disclosure, the company informed that the value of total outstanding debt that has been settled stood at Rs 1,023 crore. The debt settlement with Reliance Commercial Finance came a few days after Reliance Power announced the sale of its 45 MW wind power project in Maharashtra to JSW Renewable Energy, for a consideration of Rs 132 crore. In December 2023, Kalai Power had sold the development rights of its proposed 1,200 Megawatt hydro-electric project in Arunachal Pradesh to THDC India Ltd for Rs 128 crore. According to a company official, the funds raised from the sale of these assets were used to retire the debt. Authum Investment, in a banks-led resolution process, had acquired Reliance Commercial Finance and <keyword id="20367971" type="General" weightage="20" keywordseo="reliance-home-finance" source="keywords">Reliance Home Finance</keyword> from Reliance Capital Ltd in 2022. Over the past few months, Reliance Power has been actively signing debt settlement agreements with various banks, including DBS Bank, ICICI Bank, and Axis Bank. Reliance Power is aiming to be a debt-free company, on a standalone basis, by the end of March 31, 2024. At the end of fiscal 2023, the company had an outstanding debt of around Rs 700 crore.

Two of RPower's subsidiaries settle ₹1,023-crore debt

New Delhi, Jul 15 () The National Green Tribunal Wednesday directed a petitioner, seeking closure and cancellation of environmental clearance to Reliance Power's Sasan Ultra Mega Power Project in Madhya Pradesh's Singrauli area, to approach a monitoring committee on the issue. A bench headed by NGT Chairperson Justice Adarsh Kumar Goel said a committee comprising representative of Environment Ministry, Central Pollution Control Board, Singrauli District Collector and State Pollution Control Board has already been constituted. "In view of above, it will be appropriate that this matter is heard with the pending matter which will stand transferred to the Principal Bench and now listed on December 2. The applicant is at liberty to represent his viewpoint to the said committee through the state pollution control board," the bench said. The plea filed by advocate Ashwani Kumar Dubey sought closure and cancellation of environmental clearance of the power project for deliberately throwing industrial waste in the Rihand reservoir. It referred to an incident of April 10, 2020 in which the ash dyke of the project was breached due to the "negligent act" of the unit. The plea claimed that due to the breach, fly ash spread all over the agricultural land and allegedly resulted in the death of six innocent villagers (including 3 minor children) and cattle was swept away with the ash slurry in the "Rihand Reservoir". Dubey alleged that the breach has led to excessive fluoride concentration in the water, causing tumours and other health hazardous to the residents in the vicinity. District officials had said the sludge has affected crops spread over an area of 25 acre. The plea has sought removal of all industrial waste from the water bodies, villages, drinking wells, agricultural fields and from the reservoir, also known as Govind Ballabh Pant Sagar. It has sought NGT's intervention to formulate requisite guidelines and to secure proper checks and balance with respect to dumping of industrial waste by the industries in the area. In a similar incident on October 6, 2019, ash dyke of NTPC Vindhyachal Super Thermal Power Station in Singrauli was breached and more than 35 lakh metric tonnes of fly ash got into the Govind Vallabh Pant Sagar ''Rihand Reservoir''. PKS SA

NGT asks petitioner seeking closure of R-Power's Sasan UMPP to approach committee

New Delhi, Feb 14 () Reliance Power (RPower) on Friday said its consolidated net profit has dipped over 57 per cent to Rs 49.39 crore in the December 2019 quarter, mainly due to lower income. The company's consolidated net profit had stood at Rs 116.44 crore in the corresponding quarter of the previous financial year, according to a BSE filing. Its income came down to Rs 1,897.93 crore in third quarter of 2019-20, from Rs 2,098.82 crore a year ago. In the April-December 2019 period, the firm's consolidated net profit stood at Rs 130.66 crore, compared with Rs 451.30 crore in the year-ago period. Its consolidated net loss was Rs 2,951.82 crore in 2018-19. The company said its 5,760 megawatts of thermal capacity generated 9,311 million units of electricity, at PLF (plant load factor or capacity utilisation) of 73 per cent, in the quarter. During the quarter, the Sasan Ultra Mega Power Project in Madhya Pradesh generated 8,646 million units of electricity operating at a PLF of 99 per cent. The company has one of the largest portfolio of power projects in the private sector, based on coal, gas, hydro and renewable energy, with an operating portfolio of 5,945 megawatts. It said, "The group (RPower, its subsidiaries and associates) is confident of meeting its obligations by generating sufficient and timely cash flows through time-bound monetisation of gas-based power plant equipment and other assets of certain subsidiaries, as also realise the amount from ongoing regulatory/ arbitration claims." The firm added that considering the dependence on these uncertain events and realisation of assets, the group is confident that such cash flows would enable it to service its debt and discharge its liabilities in the normal course of its business. "Accordingly, the consolidated financial results of the group have been prepared on a going concern basis." Besides financial results, its board has approved appointment of Sandeep Khosla as the company's chief financial officer (CFO) with effect from April 1, 2020, in place of Shrenik Vaishnav, who will cease from the office of CFO from close of business hours of March 31, 2020. KKS HRS

RPower net profit declines 57 pc to Rs 49 crore in Dec quarter

Anil Ambani-led Reliance Power (<keyword id="48071" type="COMPANY" weightage="80" keywordseo="RPower">RPower</keyword>) signed an initial pact in New Delhi on Sunday to acquire the three hydroelectric power plants of <keyword id="1029556" type="ORGANIZATION" weightage="80" keywordseo="Jaiprakash-Associates-limited">Jaiprakash Associates Limited</keyword>. SBI Capital Markets is acting as adviser for the proposed transaction. 
 According to a statement issued by the company, <keyword id="2446599" type="UNKNOWN" weightage="80" keywordseo="Reliance-CleanGen-Ltd">Reliance CleanGen Ltd</keyword> (RCL), a 100-per cent subsidiary of Reliance Power Limited , and Jaiprakash Power Ventures Limited (JPVL), a subsidiary of Jaiprakash Associates Limited (Jal), have assigned an exclusive memorandum of understanding for the 100-per cent acquisition by RCL of the entire hydroelectric power portfolio of JPVL. 
 
Jaiprakash Power Ventures Limited’s (JPVL’s) hydroelectric power portfolio has an aggregate capacity of nearly 1,800 MW. This is fully operational and is the largest in the private sector in India. It and with an asset base of over Rs 10,000 crore. The portfolio comprises three plants with an asset life of over 50 years. Each of the plants are using run-of-the-river technology to convert natural water flow to electricity eliminating the need for a large reservoir. 
 
According to RPower, Jaiprakash Associates Limited (Jal) intends to utilise the entire proceeds of the proposed transaction to reduce its outstanding debt. This will deleverage its consolidated balance sheet. It also added that the completion of the proposed transaction would make RPower the largest provider of hydroelectric power in the private sector in India. 
 
RPower has hydroelectric power projects aggregating over 5,000 MW under development, of which 4,200 MW are located in Arunachal Pradesh, 700 MW in Himachal Pradesh and 400 MW in Uttarakhand. 
 
Earlier, an Abu Dhabi-led consortium pulled out of a $ 1.6 billion deal to buy two hydroelectric power plants from JPVL dealing a blow to the Indian Group's efforts to cut its debt. According to a stock exchange filing by Jaiprakash Power, Abu Dhabi National Energy Co (Taqa) told the company that the decision was due to a change in the Group's business strategy and priorities.

You Searched For "RPower" and got 4 results

Two of RPower's subsidiaries settle ₹1,023-crore debt

PTI

NGT asks petitioner seeking closure of R-Power's Sasan UMPP to approach committee

PTI

RPower net profit declines 57 pc to Rs 49 crore in Dec quarter

PTI

RPower Signs Agreement To Buy Jaypee's Hydroelectric Power Plants

BI India Bureau

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