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    Home > Chemicals Industry > International Chemical > Resurge Power acquires Bara Power Plant

    Resurge Power acquires Bara Power Plant

    • Last Update: 2022-12-28
    • Source: Internet
    • Author: User
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    Resurgent Power, backed by Tata Power and ICICI Ventures, reportedly announced it had acquired the debt-ridden Jaiprakash Associates' 180-megawatt Bara power plant
    .

    According to an official statement from Resurgent Power, the lender of Prayagraj Power Generation Limited has issued a letter of intent to Resurgent Power Ventures Pte Ltd to acquire a 75.
    01% stake
    in PPGCL, a 3X660MW coal power project located in Uttar Pradesh.

    Tata Power's CEO and Managing Director said, "Following due diligence, we found Prayagraj Power to align with our overall growth plans
    .
    It has all approvals and permits, as well as long-term PPA and fuel supply agreements
    .
    It will be a value-added asset
    in Resurgent Power's portfolio.

    Singapore's Resurge Power was established in 2016 and has been investing in power projects
    for many years.
    Tata Power owns 26% of Resurgent Power, with ICICI Venture
    holding the remaining 74%.
    The project is one of
    several power plants identified under the Samadhan program to expedite the settlement.

    :/, please indicate the source for reprinting)

     

    Resurgent Power, backed by Tata Power and ICICI Ventures, reportedly announced it had acquired the debt-ridden Jaiprakash Associates' 180-megawatt Bara power plant
    .

    acquisition

    According to an official statement from Resurgent Power, the lender of Prayagraj Power Generation Limited has issued a letter of intent to Resurgent Power Ventures Pte Ltd to acquire a 75.
    01% stake
    in PPGCL, a 3X660MW coal power project located in Uttar Pradesh.

    Tata Power's CEO and Managing Director said, "Following due diligence, we found Prayagraj Power to align with our overall growth plans
    .
    It has all approvals and permits, as well as long-term PPA and fuel supply agreements
    .
    It will be a value-added asset
    in Resurgent Power's portfolio.

    Singapore's Resurge Power was established in 2016 and has been investing in power projects
    for many years.
    Tata Power owns 26% of Resurgent Power, with ICICI Venture
    holding the remaining 74%.
    The project is one of
    several power plants identified under the Samadhan program to expedite the settlement.

    :/, please indicate the source for reprinting)

    /

     

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