Reliance Power Slumps as Vashpet Wind Project Sale to JSW Renewable Concludes

15 Apr 2024 , 03:04 PM

Reliance Power shares declined by nearly 5% on NSE following completion of slump sale of Vashpet wind power project to JSW Renewable Energy. At the time of writing, the stock traded at ₹26.45.

Reliance Power finalized the transfer of its 45 MW Wind Power Project in Vashpet, Maharashtra to JSW Renewable Energy. Consideration amounting to ₹132.39 Crore was received for the transaction.

JSW Renewable Energy (Coated), a subsidiary of JSW Neo Energy, acquired the renewable energy generation capacity from Reliance Power.

In January 2024, Reliance Power signed an agreement to sell its 1,200 MW Kalai II hydroelectric project in Arunachal Pradesh to THDC India for ₹128.39 Crore. Purpose of the agreement was to monetize the hydroelectric power project.

JSW Energy Limited, part of JSW Group, engages in power generation, transmission, and trading. Reliance Power Limited (R-Power), formerly Reliance Energy Generation Limited (REGL), is a part of Reliance Anil Dhirubhai Ambani Group.

Established to develop, construct, operate, and maintain power projects in Indian and international markets, Reliance Power is promoted by Reliance Infrastructure and Reliance ADA Group.

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