Reliance Power's Strategic Payment Strengthens Its Debt Profile
Reliance Power's subsidiary, Sasan Power Ltd, has made a USD 150 million bullet payment to fulfill debt obligations, enhancing its financial metrics and credit rating. Operating the world's largest coal-based power plant, it supplies affordable electricity to several Indian states while transitioning toward renewable energy sector growth.
- Country:
- India
Reliance Power's subsidiary, Sasan Power Ltd, announced it has made a critical USD 150 million bullet payment to IIFCL, UK, ahead of schedule, solidifying its financial commitments by the end of 2024.
This strategic move is set to bolster Sasan Power's debt coverage metrics, improve liquidity, and subsequently enhance its credit rating, according to a statement by the company.
Sasan Power, responsible for the operation of the world's largest coal-based power plant in Madhya Pradesh, supplies electricity at India's lowest tariff rate while positioning Reliance Power toward a sustainable renewable energy future.
(With inputs from agencies.)
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