Sasan Power, a subsidiary of Reliance Power, has made a bullet payment of US$150 million to IIFCL, UK, fulfilling its debt obligation on 31 December 2024. This repayment will bolster Sasan Power`s debt coverage metrics, improve liquidity, and enhance its credit rating.Sasan Power operates a 3960 MW Ultra Mega Power Plant (UMPP) in Sasan, Madhya Pradesh, which is the world`s largest integrated coal-based power plant. 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. 1,525 crore 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. 14,393 crore, Reliance Power`s enhanced equity base will elevate its net worth to over Rs. 15,000 crore.  Powered by Capital Market - Live News

Reliance Power has appointed Dr. Thomas Mathew (DIN 05203948) as an Independent Director who has spearheaded reforms in the Ministry of Defence and published numerous articles in major newspapers and has led Indian delegations at various international conferences, including the U.S. Department of Defence and Stanford University.Dr. Thomas Mathew has merited a degree in arts from the University of Delhi and a law degree from Campus Law Centre-II, Faculty of Law. He also earned a Master`s, M.Phil., and Ph.D. from Jawaharlal Nehru University. With experience in the Ministry of Finance and Ministry of Defence, he has led Indian delegations at various international conferences, including the U.S. Department of Defence and Stanford University. He spearheaded reforms in the Ministry of Defence and published numerous articles in major newspapers. As Additional Secretary to President Pranab Mukherjee, he authored two books, The Winged Wonders of Rashtrapati Bhavan and Abode Under the Dome, which were presented to visiting heads of state. He is also a Director on the Board of Reliance Infrastructure, Eraaya Lifespaces and Reliance General Insurance Company.Powered by Capital Market - Live News

Reliance Power subsidiary, Reliance NU Suntech has received the Letter of Award from Solar Energy Corporation of India (SECI) for its proposed Solar 930 MW and 465 MW/1860 MWh Battery Energy Storage System (BESS) projects. The project will see the largest deployment of grid storage batteries at a single site, not only in India but also in Asia, besides China. The competitive tariff with assured supply of peak power for 4 hours in a day will be a welcome relief for DISCOMs that have had to consistently buy power from the power exchanges during peak hours at the cap of Rs 10 per unit. Reliance NU Suntech won the landmark 930 MW solar energy contract with battery energy storage system project (BESS) from Solar Energy Corporation of India (SECI) in an e-reverse auction held on 9 December 2024. As per the terms of the tender, Reliance NU Suntech will also install a minimum storage capacity of 465 MW/1,860 MWh charged by solar power.Powered by Capital Market - Live News

Reliance Power subsidiary, Reliance NU Suntech, won a landmark 930 MW solar energy contract with battery energy storage system project (BESS) from Solar Energy Corporation of India (SECI) in an e-reverse auction held on 9 December 2024.As per the terms of the tender, Reliance NU Suntech will also have to install a minimum storage capacity of 465 MW/1,860 MWh charged by solar power. The Letter of Award (LoA) is awaited from SECI.Reliance NU Suntech`s successful bid for SECI`s Tranche XVII auction was won at a tariff of ₹3.53 ($0.0416)/kWh.The company, among India`s leading power generators, secured the largest individual allocation out of the five companies vying for a total quoted capacity of 2,000 MW of Inter-State Transmission System (ISTS) connected solar power projects with 1,000 MW/4,000 MWh energy storage systems. Reliance NU Suntech`s win underlines the technological progress made in solar power with BESS in India which has made it a cost-effective alternative to renewable energy options. The project will guarantee a peak power supply of four hours daily (or a four-hour discharge duration). SECI will enter into a power purchase agreement (PPA) with Reliance NU Suntech for a period of 25 years and the solar power procured will be sold to multiple discoms in India. Reliance NU Suntech will develop the project on a build-own-operate basis and will have to connect to the interstate transmission system in compliance with Central Electricity Regulatory Commission regulations for interconnection with the ISTS or InSTS.  Powered by Capital Market - Live News

Reliance Power announced that ICRA has reaffirmed, removed from Issuer Not-Cooperating category and withdrawn the rating in respect of Long-term fund-based - Term loans and Long-term fund based - Cash credit as there is no amount outstanding against the rated instruments. Further, ICRA has also reaffirmed the rating [ICRA] D and removed from Issuer Not-Cooperating category in respect of the Company`s Non-convertible debenture and Long/Short-term non-fund-based limits. Powered by Capital Market - Live News