Solar, defence deals, financial restructuring stabilising Reliance Group

Reliance Power and Reliance Infrastructure reduced their debt and gained ₹17,600 crore from investors to become debt-free. Authum Infrastructure became Reliance Infrastructure’s largest public shareholder with a 10.89% stake.

Reliance NU Energies secured 350 MW of solar capacity. Reliance NU Suntech signed a 25-year power purchase agreement (PPA) to establish Asia’s biggest integrated Solar and Battery Energy Storage System (BESS) for ₹10,000 crore in partnership with the Solar Energy Corporation of India.

Reliance Power tied up with the Bhutan Government’s investment arm, Druk Holding, to develop a 750 MW hydroelectric and a 500 MW solar project.

A subsidiary of Reliance Infrastructure, Reliance Defence, has entered a strategic partnership with Rheinmetall, the German ammunition manufacturer, to supply propellants and explosives.

Reliance Infrastructure is developing 1,000 acres of Dhirubhai Ambani Defence City (DADC) in Ratnagiri, Maharashtra, India’s biggest private-sector greenfield defence manufacturing hub. Reliance Defence is developing a new factory there.

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