The Anil Ambani Group companies, Reliance Power and Reliance Infrastructure, are in focus. A hectic weekend for the group. While the Enforcement Directorate (ED) concluded raids on July 27, the Group unveiled aggressive expansion plans involving Rs 18,000 crore investment via debt and equity.
Reliance Power and Reliance Infrastructure continue to distance themselves from Reliance Communications and said that “Anil Ambani is not on the board of the company, and any action taken against Reliance Communications and Reliance Home Finance has no bearing or impact on Reliance Power and Reliance Infrastructure.”
Aggressive expansion for Reliance Power and Reliance Infrastructure
Earlier last week, the Board of Directors of Reliance Infrastructure and Reliance Power approved resolutions to raise a total of Rs 18,000 crore by way of debt and equity. The two companies are planning a big capital expenditure to expand defence, aerospace and renewable energy businesses.
Reliance Infra: Focus on defence, aerospace
Reliance Infra said on July 27 that the company is nearly debt-free and has a net worth of about Rs 14,883 crore. Further, the company said that it is looking to strengthen its defence and aerospace business through strategic partnerships with various partner companies.
The company says that it is looking forward to manufacturing the Falcon 2000 business jet in India through a partnership with the French aerospace major Dassault Aviation.
Reliance Infra has an ambitious goal of being among India’s top three defence exporters. To achieve the same, it has partnered with global defence companies such as Diehl Defence of Germany, Coastal Mechanics of the US and Rheinmetall AG of Germany for the manufacturing of guided munitions and other related defence manufacturing.
Reliance Power: Capacity expansion for renewables
Reliance Power says that the company currently serves 53 lakh households in Delhi via BSES. The company says that it is nearly debt-free and has a net worth of about Rs 16,431 crore.
The company, currently having a capacity of 5.3 GW, is betting on renewable energy for its next phase of growth. Reliance Power says that it has secured 3.3 GWh of solar and battery energy storage system projects.