Reliance Power has successfully cleared all its outstanding dues to lenders, making the company debt-free on a standalone basis, according to sources. The company, which had approximately Rs 800 crore in debt, has fully repaid its obligations to banks.

Between December 2023 and March 2024, Reliance Power negotiated several debt settlement agreements with various financial institutions, including IDBI Bank, ICICI Bank, Axis Bank, and DBS. Sources confirmed that the entire debt has now been repaid.

This significant milestone means Reliance Power is now debt-free on a standalone basis.

As part of its financial restructuring strategy, Reliance Power sold the development rights for its planned 1,200 MW hydro-electric project in Arunachal Pradesh to THDC for Rs 128 crore in December 2023. Additionally, in March 2024, the company sold its 45 MW wind energy project in Vashpet, Maharashtra to JSW Renewable Energy for Rs 132 crore. The proceeds from these asset sales were used to repay the debt.

Reliance Power, with a retail investor base exceeding 3.8 million and an equity base of Rs 4,016 crore, operates a capacity of 5,900 MW. This includes the 3,960 MW Sasan Ultra Mega Power Project (UMPP) and the 1,200 MW Rosa Thermal Power Plant in Uttar Pradesh. The Sasan UMPP is one of the largest integrated coal-based power plants in the world.