**Resurgent Power Ventures Stake Sale Plans**
ICICI Venture and foreign investors, who collectively hold nearly 75% of Resurgent Power Ventures, are considering selling their stakes in the Tata Power-supported platform. Tata Power owns 26% of the Singapore-based company, which has assets valued at $2.5 billion. The remaining shares are held by ICICI Venture, Kuwait Investment Authority, and Oman Investment Authority.
**Stake Sale Discussions Underway**
– Shareholders have engaged with investment banks to facilitate a potential sale.
– A formal mandate for the sale is pending approval from Tata Power’s parent company, Tata Sons.
– It remains uncertain whether the sale will involve a 74% stake or a complete 100% stake.
– Currently, Tata Power is not looking to sell its stake, and increasing its ownership in the business is a possibility.
**Focus on Transmission and Green Energy**
Tata Power has been expanding its transmission business and aims to grow its green power portfolio to over 15GW in the next five years. During an earnings call, Tata Power CEO Praveer Sinha highlighted the opportunities in transmission, noting that two of the three assets acquired by Resurgent Power are transmission companies.
– In the last two years, Resurgent Power has taken over two stressed assets that are now operational and generating revenue.
– Tata Power recently secured a competitive bid in Odisha for a new power project, expected to be completed in over 24 months.
As the energy landscape evolves, will Tata Power increase its stake in Resurgent Power Ventures to strengthen its position in the market?
**FAQ: What is Resurgent Power Ventures focused on?**
Resurgent Power Ventures specializes in acquiring and revitalizing conventional and hydroelectric projects, as well as operational and developing transmission assets.
