Reliance ADA Group is consolidating its power generation assets under one umbrella by transferring all generation units under Reliance Infrastructure to group firm Reliance Power for an aggregate value of Rs 1,095 crore. KPMG valued the assets for the intra group transfer.
As a part of the transaction, Reliance Power will acquire generation assets that have total capacity of 433 MW that would take its total operational generation capacity to 1,000 MW, the firm said, in its filing to the BSE.
It will purchase the entire share capital of BSES Kerala Power Ltd that owns and operates the 165 MW thermal power station at Kochi, entire share capital of Reliance Goa and Samalkot Power Ltd (RGSPL) held by Reliance Energy Generation Ltd (another wholly owned subsidiary of Reliance Infrastructure) that operate the 48 MW power plant at Goa and the 220 MW power plant at Samalkot in Andhra Pradesh.
After commissioning of the 600 MW Rosa project in UP, Reliance Power will have over 1,000 MW of power generation capacity in operational stage. Reliance Infrastructure would thereafter house infrastructure and construction related EPC business besides power distribution and transmission divisions.
Both Reliance Infra and Reliance Power, scrips were down 0.4% in early morning trade on Friday post the asset transfer announcement.
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