Anil Ambani's Company Sells Mega Rs 1,320 Crore Deal Power Project to JSW Energy

Anil Ambani's Company Sells Mega Rs 1,320 Crore Deal Power Project to JSW Energy: Reliance Power, owned by Mukesh Ambani's younger brother, is making a strong comeback and has reached new heights on the stock market in the past week. A few major deals have been signed by the brother of India's richest man recently, including the settlement of debts with three major banks. Continuing along this path, Anil Ambani's Reliance has now signed a deal worth Rs 132 crore with JSW Renewable Energy. JSW Renewable Energy has purchased a 45 MW wind energy project from Reliance Power for Rs 1320000000.

As per the reports, Anil Ambani's wind power project in Vashpet had an income of Rs 28.8 crore in FY23 and a net worth of Rs 30.3 crore. The sale proceeds will likely be used by the Anil Ambani-led Reliance Power to achieve its goal of becoming debt-free by the end of the current financial year. Reliance Power had a total debt of Rs 700 crore on March 31. The company has already settled a significant amount of its debt.

There is a total of 12.5 GW in locked-in generation capacity at JSW Energy, including 7.2 GW operational, 2.6 GW under construction across wind, thermal, and hydro and 2.7 GW in pipeline from SECI (Solar Tranche XIII and Wind Tranche XVI), SJVN and GUVNL.

A battery energy storage system and hydro pumped storage project also enable the company to lock in 3.4 GWh of energy storage capacity.

Check Out: From Bankruptcy To Fortune: How Anil AmbaniSon Emerged As A Beacon Of Hope, Creating A Rs 2000 Crore Fortune