Resurgent Power Ventures, a joint venture between Tata Power and ICICI Bank, has been given permission by the Uttar Pradesh power regulator to acquire the South East UP Power Transmission Company. With a quote of INR 3,251 crore upfront payment for the stressed transmission asset under insolvency, Resurgent Power has emerged as the highest bidder in February.
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Note: The above-mentioned news was first published by us in our ProjectX India | 15th August 2022 edition. Click here to buy this issue. Access Power news, projects, tenders, and contract award information in each fortnightly issue of ProjectX India PDF version. Go for an annual subscription and get access to 24 issues in a year.