Impairments and write-off are one-time issues, says Rel Power
Reliance Power shares dipped to 52-week lows of Rs 4.71 on Monday as the company undertook impairments and write-off of over Rs 4,000 crore, but chief executive officer K Raja Gopal told Rachita Prasad that these are one-time issues and the company is working on resolving the mismatch in current asset and liabilities, which its institutional investors understand. The company has put a hold on its renewable ambitions. For the company’s concentrated solar power (CSP) unit in Rajasthan defaulting on loan repayment, he blames faulty direct normal irradiance (DNI) data provided by the government which has rendered the project financially unviable. He said Reliance Power will resolve its financial issues and will not be a burden to the already tr.....