Tata Power JV to buy 75% stake in Prayagraj for â¹6,000 crore
Singapore-based Resurgent Power, a joint venture of Tata Power and ICICI Ventures, has won the bid to buy a 75.01% stake in Prayagraj Power Generation Company for â¹6,000 crore. Prayagraj has a 1,980 megawatt (MW) coal-fired power plant in Uttar Pradesh's Allahabad. Earlier promoted by Jaiprakash Associates, Prayagraj owes more than â¹11,000 crore to lenders.