Rosa Power intends to complete the debt repayment by the end of fiscal 2025 and will pay off the balance in the next quarter.
Rosa Power, a subsidiary of Reliance Power Ltd, has repaid a Rs 850-crore loan owed by Singapore-based lender Verde Partners. Following Reliance Power’s proof of zero debt, Rosa Power is now debt free. The company wants to repay the outstanding loan by the end of the current fiscal year. It plans to pay off the debt in the next quarter. Varde Partners is the exclusive lender to Rosa Power, which operates a 1,200 MW coal-fired thermal power plant at Roja village near Shahjahanpur in Uttar Pradesh state.
On September 23, Reliance Power’s board approved a proposal seeking Autham Investment and Infrastructure Ltd and Sanatan Financial Advisory Services to contribute the remaining Rs. 90 crore by Reliance Infrastructure.
The company added that the proceeds from the preferential issue are intended to support business expansion, investments in subsidiaries and joint ventures, debt reduction, and general corporate purposes.