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Anil Ambani’s Reliance Power Secures Massive Rs 132 Crore Deal with JSW Renewable Energy

Anil Ambani

Anil Ambani’s Reliance Power has made headlines with a substantial deal amounting to Rs 132.39 crore secured from JSW Renewable Energy. The deal involves the transfer of a 45 MW wind power project located in Vashpet, Maharashtra.

Deal Details and Financial Progress

Reliance Power’s latest regulatory filing confirms the receipt of Rs 132.39 crore from JSW Renewable Energy, underscoring a significant step forward for the company. This milestone comes after Reliance Power settled debts owed to ICICI Bank, Axis Bank, and DBS Bank, successfully managing to repay around Rs 400 crore in debt and recovering 30-35% of the principal loans.

Furthermore, reports indicate that Anil Ambani’s firm is on course to settle a Rs 2100 crore debt with JC Flowers Asset Reconstruction Company, demonstrating a strategic move towards financial restructuring.

Other Strategic Agreements

Earlier this year, Reliance Power inked an agreement to divest its 1,200 MW Kalai II hydroelectric project in Arunachal Pradesh to THDC India for Rs 128.39 crore, showcasing the company’s ongoing efforts in portfolio optimization and debt reduction.

Reliance Power’s Market Performance

Amidst recent fluctuations in share prices, Reliance Power has shown resilience, with its shares experiencing positive momentum in recent weeks, signaling a potential resurgence under Anil Ambani’s leadership.

While challenges persist, Anil Ambani’s Reliance Power is making notable strides in financial restructuring and strategic partnerships, setting the stage for a promising trajectory in the renewable energy sector.

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