Reliance Power Limited — JV/Acquisition, 18-08-2025: Acquisition

Reliance Power's associate, REPL, has formed a 50:50 Joint Venture, GDL-Reliance Solar Pte Ltd (GRSPL), in Bhutan. This JV, with Green Digital Private Limited (Bhutanese State-Owned Enterprise), gives Reliance Power an indirect 25% stake. REPL's cash subscription is $22.5 million. GRSPL targets the renewable and green energy sector, signaling strategic expansion into Bhutan's green energy landscape. As a newly incorporated entity, GRSPL is yet to commence operations, indicating a future-oriented move with no immediate operational impact for Reliance Power.