Anil Ambani-led Reliance Power has announced it will sell five of its Indonesian step-down subsidiaries to Singapore-based Biotruster for $12 million. The sale involves 100% equity in PT Avaneesh Coal Resources, PT Heramba Coal Resources, PT Sumukha Coal Services, PT Brayan Bintang Tiga Energi, and PT Sriwijaya Bintang Tiga Energi.
The agreement was signed on September 29, with the transaction expected to close by December 30, subject to regulatory approvals and customary conditions. Reliance Power confirmed that the deal is executed through a Share Purchase Agreement and does not fall under related-party transactions.
The Indonesian units contributed no income in the last financial year, while their combined net worth stood at Rs 16,909 lakh, representing 0.53% of Reliance Power’s consolidated net worth. These entities were held through Reliance Power Netherlands and Reliance Natural Resources (Singapore).
Reliance Power reported a net profit of Rs 44.68 crore in Q1 FY26, a significant recovery from a loss of Rs 97.85 crore in the same quarter last year. The company attributed the turnaround to strong plant performance, with Sasan running at 91% plant load factor and Rosa achieving 97% availability, as well as effective debt management, including servicing Rs 584 crore of debt. The company now maintains one of the lowest debt-to-equity ratios in the sector.
Reliance Power, part of the Anil Ambani-led Reliance Group, develops, constructs, and operates energy projects in India and abroad. Its portfolio includes nearly 6,000 MW of operational capacity spanning coal, gas, hydro, and renewable energy, with projects strategically located near fuel sources or demand centres.
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