Reliance Power , part of the Reliance Group, a prominent Indian conglomerate, has announced ambitious plans to raise ₹18,000 crore through equity and debt to fuel its expansion in the Defense & Aerospace and Renewable Energy sectors. This strategic move was revealed during a recent leadership meeting that brought together over 100 senior leaders from Reliance Infrastructure and Reliance Power.

Expansion Strategy

The boards of both Reliance Infrastructure and Reliance Power have unanimously approved the fundraising initiative, signaling a strong commitment to growth and innovation. The group's focus on these high-potential sectors aligns with India's push for self-reliance and sustainable energy solutions.

Financial Strength

Highlighting its robust financial position, the Reliance Group emphasized its debt-free status. Reliance Infrastructure boasts a net worth of ₹14,883.00 crore, while Reliance Power's net worth stands at ₹16,431.00 crore. This solid financial foundation provides a strong launchpad for the group's expansion plans.

Defense and Aerospace Initiatives

Reliance Infrastructure is set to make significant strides in the defense manufacturing sector through strategic partnerships:

• Collaboration with Dassault Aviation for manufacturing Falcon 2000 business jets in India for global markets
• Partnership with US-based Coastal Mechanics to establish an MRO (Maintenance, Repair, and Overhaul) hub in Maharashtra
• Strategic alliance with Rheinmetall AG, a leading German defense manufacturer
• Strengthening ties with Diehl Defence of Germany for Guided Munition / Terminally Guided Munition (TGM)

The company aims to position itself among India's top three defense exporters, aligning with the government's 'Make in India' and 'Atmanirbhar Bharat' initiatives.

Power Distribution and Renewable Energy

BSES, under Reliance Infrastructure, continues to serve over 53 lakh households in Delhi, covering two-thirds of the city's population. The company is focusing on smart, sustainable power delivery and aims to transition to clean, green energy sourcing within the next five years.

Reliance Power, with its current operating portfolio of approximately 5.3 GW, has secured renewable energy projects totaling about 3.3 GWh of Solar and Battery Energy Storage System (BESS) projects. This includes what is described as Asia's largest solar-plus-storage project, underlining the group's commitment to sustainable energy solutions.

Market Position

The combined Reliance Group, comprising Reliance Infrastructure and Reliance Power, boasts a market capitalization of approximately ₹40,000.00 crore. With over 4 million shareholders, it represents one of India's largest shareholder families.

Leadership Vision

The leadership meeting reaffirmed the group's commitment to growth, innovation, and shareholder value creation. The spirit of the group's founder, late Shri Dhirubhai H Ambani, was invoked, encouraging leaders to pursue goals even in the face of difficulties and to convert adversities into opportunities.

As Reliance Group embarks on this significant expansion, it aims to strengthen its position in key sectors while contributing to India's economic growth and technological advancement. The success of these initiatives will be closely watched by industry observers and stakeholders alike.

Reliance Power Limited (RPower) has issued a statement addressing the recent action by the Enforcement Directorate (ED), emphasizing that the investigation has concluded at all company locations with no impact on its business operations or financial performance.

ED Action Concluded

In a media release dated July 27, RPower announced that the ED's action has concluded at all of its locations. The company stated that it has fully cooperated with the authorities throughout the process and will continue to do so if required.

No Impact on Business Operations

RPower emphasized that the ED's action has not affected its:

• Business operations
• Financial performance
• Shareholders
• Employees
• Other stakeholders

The company continues to operate normally, focusing on its business plans and commitment to creating value for all stakeholders.

Clarification on Allegations

RPower provided important clarifications regarding the nature of the ED's investigation:

1. The allegations appear to concern transactions of Reliance Communications Limited (RCOM) or Reliance Home Finance Limited (RHFL) that are over 10 years old.
2. RPower is a separate and independent listed entity with no business or financial linkage to RCOM or RHFL.
3. RCOM has been undergoing Corporate Insolvency Resolution Process for over 6 years.
4. RHFL has been fully resolved pursuant to a judgment of the Supreme Court of India.
5. Similar allegations are currently sub-judice and pending before the Securities Appellate Tribunal.

Corporate Governance

The company made several points to distinguish itself from related entities:

• Anil D. Ambani is not on Reliance Power's board.
• Any action against RCOM or RHFL has no bearing on RPower's governance, management, or operations.

Company Profile

Reliance Power, part of the Reliance Group, is a leading private sector power generation company in India. It operates a portfolio of 5,305 megawatts, including the 3,960-megawatt Sasan Power Limited, which is described as the world's largest integrated coal-based power plant. Sasan Power has consistently ranked as the best operating power plant in India for the past seven years.

RPower reaffirmed its commitment to its business plans and creating value for all stakeholders as it continues its normal operations.