The company had raised a similar amount of debt in FY 09 as well. Reliance Power has bagged three of four contracts for developing UMPPs in the country.
Anil Ambani-led Reliance Power, which emerged as the lowest bidder for the 4,000 MW ultra mega power project at Krishnapatnam, will be awarded the contract in a few days.
UMPP is coal-based thermal power project that has 4,000 MW capacity.
Ambani said, in the telecom space, the focus will be on debt reduction, and the virtual merger did away with the need for major capex and will help towards this
Two ultra mega power projects are coming up at Sasan in Madhya Pradesh and Krishnapatnam in Andhra Pradesh.
With their balance sheets under stress, private companies have lost interest in them.
The projects coming up in Bihar, Jharkhand and Odisha will together add 16,000 MW capacity to country's power generation.
The 4,000 MW Krishnapatnam ultra mega power project in Andhra Pradesh seems to be stuck, thanks to the state government's inability in resolving and expediting issues related to the project.
Anil Ambani-led Reliance Power, which emerged as the lowest bidder for the 4,000 MW ultra mega power project at Krishnapatnam in Andhra Pradesh, will be awarded the contract in a few days, Power Minister Sushilkumar Shinde said on Tuesday.
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