Sasan Power makes $150 million bullet payment on debt with IIFCL

"This repayment will bolster Sasan Power's debt coverage metrics, improve liquidity, and enhance its credit rating," the company stated in its press release

Anil Ambani-promoted Reliance Power said on Wednesday its subsidiary Sasan Power has made a bullet payment of $150 million to India Infrastructure Finance Company (IIFCL UK), fulfilling its debt obligation on December 31. 

Sasan Power operates a 3,960 MW coal-based Ultra Mega Power Plant (UMPP) in Madhya Pradesh, with a captive coal mining capacity of 20 MTPA. The plant supplies electricity to 14 distribution companies (discoms) across seven states at a tariff of Rs 1.54 per unit.

 

“This repayment will bolster Sasan Power’s debt coverage metrics, improve liquidity, and enhance its credit rating,” the company noted in its press statement.  

 

“The loan repayment further strengthens Reliance Power’s balance sheet as the company transitions its focus toward the renewable energy sector, which is poised to drive future growth,” said Reliance Power.

 

In 2024, Reliance Power, which said it is a zero-debt company, raised Rs 1,525 crore through equity-linked warrants via a preferential issue. The company said the capital infusion was to capitalise on growth opportunities in the rapidly expanding renewable energy market.

 

In November, Reliance Power announced its subsidiary Rosa Power Supply Company has fully repaid its remaining debt, amounting to Rs 485 crore to Singapore-based Varde Partners.