Reliance Power

Reliance to set up 10 gigawatt solar energy project in AP: Mukesh Ambani

Reliance Industries Chairman Mukesh Ambani on Friday said his group will be investing in Andhra Pradesh to set up a 10 gigawatt renewable solar energy project. Speaking at the inaugural session of the two-day Global Investors Summit 2023 here, Ambani said as much as Rs 1.50 lakh crore was invested in Reliances' KG-D6 assets, developing and supporting gas pipeline and the natural gas produced there is fuelling India's clean energy transition and will contribute to nearly 30 per cent of the country's gas production. "I would like to assure you that Reliance will continue to be an unflinching partner to the people and the Government of Andhra Pradesh in your state's all-around accelerated progress. This morning, I am happy to announce that we will continue our investments and we will invest in 10 gigawatts of renewable solar energy in the state of Andhra Pradesh, Ambani said. According to him, the rollout of Jio True 5G will be completed by the end of 2023 throughout the country and

Reliance Power Q3 loss widens to Rs 291 cr, expenses rise to Rs 2,126 cr

Reliance Power on Saturday said its consolidated net loss widened to Rs 291.54 crore in the December 2022 quarter. The company's consolidated net loss was Rs 97.22 crore in the quarter ended December 2021, a BSE filing showed. The total expenses rose to Rs 2,126.33 crore in the quarter from Rs 1,900.05 crore in the year-ago period. Its total income stood at Rs 1,936.29 crore in the quarter against 1,858.93 crore a year ago. The company made a debt repayment of Rs 178 crore in the quarter, and its debt-equity ratio stood at 2.03:1. It reported a net worth of Rs 11,219 crore. It has an operating portfolio of 5,945 MW. The Board of Directors, at its meeting held on Saturday, has appointed Ashok Kumar Pal as the Chief Financial Officer (CFO) of the company from January 29, 2023. Pal is a qualified Chartered Accountant with extensive hands-on experience of over 22 years. He has an established record of success in finance, accounts, taxation and other compliances. He is associated wi

Piramal Capital withdraws insolvency proceedings against Reliance Power

Piramal Capital and Housing Finance Ltd has withdrawn the insolvency proceedings against Reliance Power Ltd. Piramal Capital and Housing Finance Ltd has withdrawn the application made against Reliance Power Ltd under section 7 of the Insolvency and Bankruptcy Code 2016, a BSE filing stated. This follows an out-of-court settlement between both the companies over a Rs 526 crore loan default by Reliance Power and its subsidiary Reliance Natural Resources Ltd (RNRL). In 2010, RNRL merged with Reliance Power. RNRL had defaulted on a loan of Rs 526 crore obtained from the erstwhile Dewan Housing Finance Corporation Ltd (DHFL). The Piramal Group had acquired DHFL in 2021 and merged it with Piramal Capital and Housing Finance. In March this year, Piramal Capital initiated bankruptcy proceedings against Reliance Power under section 7 of the IBC, 2016 in the NCLT Mumbai to recover dues. In July, during a hearing on Piramal Capital's application, both the companies had informed the NCLT ..

Reliance Power Q2 net loss widens to Rs 340 crore on higher expenses

Reliance Power on Thursday reported widening of its consolidated net loss to Rs 340.26 crore in the September quarter, mainly due to higher expenses. The consolidated net loss of the company stood at Rs 133.10 crore in the quarter ended September 30, 2021, it said in a BSE filing. Total expenses of the company rose to Rs 2,216.07 crore in the quarter from Rs 1,979.17 crore in the same period a year ago. Its total income increased to Rs 1,945.14 crore from Rs 1,886.82 crore earlier. Reliance Power made a debt repayment of Rs 390 crore in the quarter. The company added that it is on track to repay Rs 1,500 crore debt in FY'23.

Reliance Power to issue shares to VFSI Holdings at Rs 15.5; stock sinks 10%

Reliance Power said the private placement of shares will happen at Rs 15.55 apiece, which is 27 per cent lower than the company's Thursday's closing price of Rs 21.3 per share

Stocks to Watch: NBFCs, RIL, Concor, IOL Chemicals, M&M, Jet Airways, VIL

Stocks to Watch Today: Analysts recommend lack of clarity on the new policy may limit the upside on Concor; Govt to acquire stake in Voda Idea after the stock stabilizes above Rs 10.

Varde Partners to pick up 15% in Reliance Power for Rs 933 crore

Reliance Power's stock price closed trade at Rs 21.30 a share on Thursday, down 1.62 per cent over the previous day's close

Reliance Power, subsidiary to raise up to Rs 1,200 cr from Varde Partners

Debt will be used for settlement and discharge, acquisition and restructuring of financial instruments, says company

RPower, subsidiary to raise debt of up to Rs 1,200 cr from Varde Partners

Reliance Power and its subsidiary have inked a pact with Varde Partners for availing debt of up to Rs 1,200 crore. In a regulatory filing, Reliance Power said the company and its subsidiary have entered into a indicative Memorandum of Understanding (MoU) with Varde Partners for availing debt of up to Rs 1,200 crore (USD 150 million) "for settlement and discharge and/or acquisition and restructuring of certain financial debt availed by Reliance Power." Varde Partners is a leading global alternative investment firm specializing in credit and credit-related assets. The drawdown of the debt will be subject to finalization and execution of binding documents and all requisite approvals including regulatory approvals as per applicable rules/ laws/ regulations, the filing added. The stock exchanges will be updated once the terms of the proposed financing are finalised and the definitive documents in relation to the proposed financing are executed, it further said. Reliance Power Ltd, a pa

Stocks to Watch Today: Cipla, RIL, PNB, Reliance Power, Metals, Restaurants

Stocks to Watch Today: Shares of metal companies are also to be in focus as copper prices fell to 17-month lows amid new COVID restrictions in China, slowing global manufacturing activity and a jump i

Shareholders turn down Reliance Power's asset monetisation plan

A report by Institutional Investor Advisory Services (IiAS) last month says that the company has defaulted on loans to the tune of Rs 3,561 crore as on March 31, 2022

20 yrs of privatised Delhi discoms: Leap in tech but feet tied in populism

Delhi's power purchase cost has risen by 300% since 2014 but the tariff has only risen by 90%

RPower posts Rs 555 cr loss in March quarter, total expense up 53%

Reliance Power on Friday reported a consolidated loss of Rs 555.18 crore for the March quarter, mainly due to higher expenses. The company had clocked a consolidated net profit of Rs 72.56 crore in the quarter ended March 31, 2021, as per a BSE filing. Total income in the quarter rose to Rs 1,878.40 crore from Rs 1,691.19 crore in same period a year ago. However, total expenses also rose to Rs 2,525.02 crore from Rs 1,647.69 crore in the year-ago quarter. For the full fiscal 2021-22, the company posted a consolidated net loss of Rs 605.91 crore. It had logged a consolidated net profit of Rs 228.63 crore in 2020-21. Total income in the fiscal came down to Rs 7,686.73 crore from Rs 8,388.60 crore in 2020-21. In a statement, the company said it has reduced its debt by Rs 2,537 crore in the fiscal. The debt-to-equity ratio has improved further from 2.08:1 in FY21 to 1.84:1 in FY22. Reliance Power Limited, part of the Reliance Group, is a leading private sector power generation and c

Anil Ambani resigns as director of RPower, RInfra

In a separate filing to the stock exchange, Reliance Infrastructure said that Anil Ambani has stepped down from its board "in compliance of SEBI interim order"

Piramal Capital drags Anil Ambani companies to NCLT over unpaid dues

Reliance Natural Resources had defaulted on a loan of Rs 526.1 cr from DHFL before it was taken over by Piramal Capital last September for Rs 34,250 cr

Reliance Power reports Rs 13.93 crore loss in December quarter

Total income dipped to Rs 1,858.93 crore in the quarter, from Rs 2,006.66 crore in the same period a year ago

Reliance Power defaults on interest payment to IDBI and DBS banks

Total outstanding borrowings from banks/financial institutions are Rs 1,194 crore

Reliance Power allots 59.50 cr equity shares, 73 cr warrants to RInfra

After approval from shareholders, through postal ballot, Reliance Power has allotted 59.50 crore equity shares and 73 crore warrants convertible to Reliance Infrastructure, a listed promoter company.

R Power gets shareholders' nod to issue shares, warrants worth Rs 1,325 cr

Reliance Power said it has received shareholders' approval to issue shares and warrants worth Rs 1,325 crore to its promoter firm Reliance Infrastructure on preferential basis

Reliance Power to raise Rs 1,325 cr from R-Infra via preferential allotment

Anil Ambani-led Reliance Power will raise Rs 1,325 crore by issuing preferential shares and warrants to its parent Reliance Infrastructure.