Resurgent Power Ventures Pte. Ltd completes acquisition of South East UP Power Transmission Company Limited.
Speaking on the development, Mr. Praveer Sinha, CEO & MD, Tata Power said “In line with our aspiration to expand our transmission business, Tata Power has partnered with ICICI and other global investors in Resurgent Power, that had bid for acquiring SEUPPTCL under Corporate Insolvency Resolution Process.
We are delighted to have completed the acquisition, allowing all creditors to maximize the recovery from this project.
This asset fits our overall strategy to maximize shareholder value through growth & sound investments.
After successful turnaround of Prayagraj Power and acquisition of NRSS XXXVI, this asset will add further value to and diversify the Resurgent Power portfolio.”
It has successful public-private partnerships in generation, transmission & distribution in India.
With a focus on sustainable and clean energy development, Tata Power is steering the transformation as an integrated solutions provider by looking at new business growth in distributed generation through rooftop solar and Microgrids, storage solutions, solar pumps, EV charging infrastructure, ESCO, home automation & smart meters et al.
With its 107 legacy of technology advancements, project execution excellence, world- class safety processes, customer care, and green initiatives, Tata Power is well poised for high growth trajectory and is committed to lighting up lives for generations to come.
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