Reliance Power Arm Sasan Power Pays $150 Mn Debt To IIFCL

03 Jan 2025 CW Team

Reliance Power said its arm Sasan Power Ltd has made a bullet payment of USD 150 million to IIFCL, UK, fulfilling its debt obligation on December 31, 2024. This repayment will bolster Sasan Power's debt coverage metrics, improve liquidity, and enhance its credit rating, a company statement said.

Sasan Power operates a 3,960 MW Ultra Mega Power Plant (UMPP) in Sasan, Madhya Pradesh, which is the world's largest integrated coal-based power plant, it said.

It boasts a captive coal mining capacity of 20 MTPA. The plant supplies electricity to 14 Discoms distribution companies (DISCOMs) across seven states -- Madhya Pradesh, Uttar Pradesh, Rajasthan, Punjab, Haryana, Uttarakhand, and New Delhi -- at the lowest tariff in India of Rs 1.54 per unit, benefiting more than 40 crore people.

For seven consecutive years, Sasan Power has been ranked as the best-performing power plant in India. The loan repayment further strengthens Reliance Power's balance sheet as the company transitions its focus toward the renewable energy sector, which is poised to drive future growth. Reliance Power, a zero-debt company, recently raised Rs 15.25 billion through equity-linked warrants via a preferential issue. This capital infusion positions the company to capitalize on growth opportunities in the rapidly expanding renewable energy market.

With a current net worth of Rs 143.93 billion, Reliance Power's enhanced equity base will elevate its net worth to over Rs 150 billion. Reliance Power, part of the Reliance Group, is one of India's leading private sector power generation companies.

The company has an operating portfolio of 5,300 megawatts, that includes 3,960 megawatts Sasan Power. For the past seven years, Sasan Power has consistently ranked as the best operating power plant in India, it stated.

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