Reliance Power Holding Talks To Fund Jaypee Group Deal

Anil Ambani’s Reliance Power is in discussions with Temasek Holdings, the Singapore government-owned investment firm, to raise up to $500 million and secure funding for the three Jaypee Group hydroelectric power assets that it's taking over.

Apart from Temasek, Reliance is also in discussions with Canadian pension fund giant PSP Investments and home-grown private equity firm IDFC Alternatives for equity funding.

A few days ago, TAQA had pulled out of the deal, citing a global "shift in strategy." PSP is believed to eager to offer up to $1 billion dollars to Ambani. The commitments till date far exceed the actual funding requirement. Hence, the final disbursals could be a lot less.