Rosa Power Supply Company, a subsidiary of Reliance Power, has prepaid ₹485 crore loan to Singapore-based lender Varde Partners and achieved a zero-debt status, fully settling its outstanding debt with payment of ₹1,318 crore ahead of the original schedule.
In September, Rosa Power had prepaid ₹833 crore to Varde Partners.
The company 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, said the company.
The preferential issue will boost the company’s net worth from ₹11,155 crore to over ₹12,680 crore.