# Resurgent Power Ventures to acquire 75.01% stake in Prayagraj Power Generation

Lenders of Prayagraj Power Generation Company agreed to divest a 75.01% stake to Resurgent Power Ventures, a Singapore-based joint venture.

- Type: Acquisition
- Announced: 2018-08-31
- Where: Uttar Pradesh, India
- Value: $850.0M (60.9B INR)
- Status: announced
- Capacity: 1.98 GW
- Products: coal-based power
- Sectors: [Power Generation Equipment](https://endata.com/sectors/power-generation-equipment.md)

## Companies

- [Tata Power](https://endata.com/companies/14105.md) (investor)
- [Resurgent Power Ventures](https://endata.com/companies/34024.md) (acquirer)
- [Prayagraj Power Generation Company](https://endata.com/companies/34025.md) (target)

## Sources

- [power-technology.com](https://www.power-technology.com/news/mas-week-ballard-power-systems-prayagraj-power-generation-company-vectren-corporation/), 2018-08-30: "The lenders of Prayagraj Power Generation Company Limited (PPGCL) have agreed to divest a 75.01% stake in PPGCL and issued a letter of intent (LoI) to Resurgent Power Ventures."
- [asian-power.com](https://asian-power.com/project/news/tata-power-joint-venture-gets-letter-intent-1930mw-coal-plant), 2018-08-31: "The lenders of Prayagraj Power Generation Company have issued a letter of intent to Resurgent Power Ventures for acquisition of 75.01% stake in PPGCL."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.