Reliance Power to sell 40% stake in solar JV to SECI

Reliance Power will sell a 40% stake in its solar joint venture to the Solar Energy Corporation of India (SECI).

The deal is worth about Rs 1,500 crore and will help Reliance Power reduce its debt.

Reliance Power is a subsidiary of Reliance Industries, which is owned by Mukesh Ambani. The deal is part of Reliance Power's plan to sell off non-core assets and reduce its debt. The company has been struggling with high levels of debt for several years.

The joint venture, Reliance Solar, was formed in 2010. It has a portfolio of about 1,500 megawatts of solar power projects. SECI is a government-owned company that promotes the development of solar energy in India.

The deal is expected to close in the next few months. Reliance Power will continue to operate the solar projects.

The deal will help Reliance Power reduce its debt by about Rs 1,500 crore.

The company has been struggling with high levels of debt for several years. The deal will help Reliance Power improve its financial position and focus on its core business of power generation.

The deal is part of Reliance Power's plan to sell off non-core assets and reduce its debt.

In recent years, Reliance Power has sold off a number of non-core assets, including its telecom business and its stake in a power plant in Australia. The company has also raised funds by selling bonds and convertible debentures.

The deal is expected to close in the next few months.

The deal is subject to regulatory approvals. Once the approvals are received, the deal is expected to close in the next few months.