By: ICN Bureau
Last updated : December 28, 2024 3:44 pm
The proceeds of the loan shall be utilized for future investment in renewable energy projects and flue gas desulfurization capex of Rosa
Reliance Power Limited's subsidiary, namely, Rosa Power Supply Company Limited, has executed the definitive documents on December 27, 2024 to avail the rupee term loan facility to the extent of Rs 3,760 crore in one or more tranches, from Power Finance Corporation Limited (PFC), subject to satisfaction of customary conditions precedent. The proceeds of the loan shall be utilized for general corporate purposes including future investment of the Group in renewable energy projects and flue gas desulfurization capex of Rosa.
PFC does not hold any share in the Company and is neither a related party nor part of the Promoter/Promoter Group/Group Companies. The aforesaid borrowing from PFC is not a related party transaction and have been done on arm's length basis.