Reliance Power (RPL) and its subsidiary have entered into an indicative Memorandum of Understanding (MoU) with Varde Partners for availing debt of upto around Rs 1,200 crore ($150 million). The company to avail debt for settlement and discharge and/or acquisition and restructuring of certain financial debt availed by it. 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.
Reliance Power, a part of the Reliance Group, is India’s leading private sector power generation and coal resources company. The Company has one of the largest portfolio of power projects in the private sector, based on coal, gas, hydro and renewable energy.
