Anil Ambani-backed , Reliance Power and its subsidiary have entered into a Memorandum of Understanding with Varde Partners for availing of debt of up to Rs 1,200 crore ($150 million) for settlement and discharge and/or acquisition and restructuring of certain financial debt availed by RPL.
“The drawdown of the debt will be subject to finalisation and execution of binding documents and all requisite approvals including regulatory approval.,” Reliance Power said in a statement.
The company has one of the largest portfolios of power projects in the private sector, based on coal, gas, hydro and renewable energy, with an operating portfolio of 5,945 megawatts.
The company has one of the largest portfolios of power projects in the private sector, based on coal, gas, hydro and renewable energy, with an operating portfolio of 5,945 megawatts.