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Reliance Power to receive $1.5 billion from Chinese lenders

30 Dec 2011 Evaluate

Reliance Power, Anil Ambani group firm as a part of arrangements with Chinese lenders for about $12 billion will receive around $1.5 billion for its upcoming 3,960 mw Tilaiya ultra mega power project (UMPP) in Jharkhand.

Presently, along with Tilaiya UMPP the company is also developing the Sasan and Krishnapatnam UMPPs. In total, Reliance Power has arrangements in place with Chinese as well as US entities for as much as $17 billion in funding for various power projects.

Recently, the company had commissioned another 300-MW unit under its Rosa project in Uttar Pradesh. After commissioning this unit the company's total capacity reached to 900 MW. The company aims to have a total installed capacity of 5,000 MW by December, 2012, including thermal, gas and renewable energy.

Reliance Power is a part of the Reliance Anil Dhirubhai Ambani Group and is established to develop, construct and operate power projects domestically and internationally.

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