Resurgent to acquire full stake in northern transmission project
Resurgent is a Singapore-based joint venture. In this, 26 percent is held by a Singapore-based subsidiary of Tata Power. The remaining 74 per cent stake is held by ICICI Bank, Power Patelform Limited and Kuwait Investment Authority.
Tata Power said in a statement that the lender to NRSS XXXVI Transmission Limited and PTC India Financial Services Limited (PFS) has issued a letter of intent (LOI) to designate a resurgent to buy 100 per cent stake in NRSS XXXVI.
According to the statement, this transaction is a part of the transmission asset resolution process initiated by PFS through a competitive bidding process.
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