Resurgent Power Ventures awarded the Letter of Intent for 3X660 MW
Resurgent Power Ventures awarded the Letter of Intent for 3X660 MW coal based Prayagraj Power Generation Company Limited.
August 29, 2018. By Moulin
The lenders of Prayagraj Power Generation Company Limited (PPGCL), a 3X660MW coal-based power project based in UP have issued a Letter of Intent to Resurgent Power Ventures Pte. Ltd., (Resurgent Power) for acquisition of 75.01%stake in PPGCL.
Resurgent Power is a Joint Venture based out of Singapore and is held 26% by Tata Power through its wholly owned Singapore based subsidiary. The balance 74% of Resurgent Power is held by ICICI Bank and investors of international repute.
Speaking on the development, Mr. Praveer Sinha, CEO & MD, Tata Power said “It’s our endeavor to maximize shareholder value through growth & sound investments. After our due diligence, we found that Prayagraj Power fits in our overall scheme of growth. It has all approvals and clearances in place along with long-term PPA and fuel supply agreement. It will be a value-adding asset in Resurgent Power’s portfolio.”
The transaction shall be subject to customary approvals and conditions.
please contact: contact@energetica-india.net.
Prakash Sojitra, Managing Director, Vsole Solar Energy
Sagar Sojitra, Managing Director
Vsole Blends Indigenous R&D with Global Collaborations to Address India-specific Challenges
Rajan Saspara
CEO
Anand E-Beam Cables Plans 3-4X Capacity Expansion with Advanced Automation, Says Rajan Saspara
Vivek Gupta
Chairman & MD
Quality, Trust, and Innovation Have Driven Oswal Pumps’ Growth Since 2003, Says CMD Vivek Gupta
Udai Singh
MD & CEO, Schneider Electric Infrastructure
Udai Singh Highlights Schneider Electric’s EcoStruxure as Backbone of Urban Energy Systems
Sushil Bansal
Chairman & CEO
Sushil Bansal Says Novasys Greenergy will Scale Module Capacity to 2.6 GW by FY26