Nod to Resurgent Power’s takeover of UP Transmission
POWER & RENEWABLE ENERGY

Nod to Resurgent Power’s takeover of UP Transmission

The Uttar Pradesh power regulator has approved the takeover of the South East UP Power Transmission Company by Resurgent Power Ventures, a JV between Tata Power and ICICI Bank. It had emerged as the highest bidder in February, quoting Rs 3,251 crore upfront payment for the stressed transmission asset under insolvency.

The NCLT cleared the bid in June.
"This is a critical order for the power sector. This is one of the first large-scale stressed transmission projects which has been resolved through IBC (Insolvency and Bankruptcy Code) and has been accepted by the State Regulatory Commission," said SKV Law Offices advocate Venkatesh, who appeared for Resurgent Power Ventures.

Also read:
Tata Power Delhi Distribution inks training pact with Siemens
Tata Power will buy 300 MW of non- solar renewable energy

The Uttar Pradesh power regulator has approved the takeover of the South East UP Power Transmission Company by Resurgent Power Ventures, a JV between Tata Power and ICICI Bank. It had emerged as the highest bidder in February, quoting Rs 3,251 crore upfront payment for the stressed transmission asset under insolvency. The NCLT cleared the bid in June. This is a critical order for the power sector. This is one of the first large-scale stressed transmission projects which has been resolved through IBC (Insolvency and Bankruptcy Code) and has been accepted by the State Regulatory Commission, said SKV Law Offices advocate Venkatesh, who appeared for Resurgent Power Ventures. Also read: Tata Power Delhi Distribution inks training pact with SiemensTata Power will buy 300 MW of non- solar renewable energy

Next Story
Infrastructure Energy

South West Pinnacle Wins Rs 30 Cr Oman Mining Contract

South West Pinnacle Exploration Ltd has secured a Rs 30 crore contract from Minerals Development Oman (MDO) for mining exploration in concession areas 12B and 13.The two-year project will be carried out via Alara Resources LLC, a JV in Oman. MDO, backed by Oman’s investment authorities, focuses on monetising mineral wealth.The contract covers copper, gold, and chromite and highlights South West Pinnacle’s growing footprint in international exploration and mining services. ..

Next Story
Equipment

Godrej GEG Boosts Intralogistics with AI and Green Tech

Godrej Enterprises Group (GEG) is revolutionising warehouse and factory logistics through its Material Handling Equipment and Storage Solutions arms by integrating AI, IoT, and automation.With 20–25% market share and 85% local sourcing, GEG champions Atmanirbhar Bharat and sustainability. The Chennai plant, a green manufacturing leader, uses RoHS-compliant materials and has slashed energy consumption by 60%.GEG serves e-commerce, FMCG, retail, and cold chains with high-performance racking and electric forklifts. Upcoming IoT-enabled forklifts and telematics solutions aim to improve speed, sa..

Next Story
Infrastructure Urban

Amit Shah Inaugurates Key Projects Across Gujarat

Union Home Minister Amit Shah inaugurated and laid the foundation stone for various projects in Gujarat’s Panchmahal district and Ahmedabad.In Godhra, he inaugurated the Center of Excellence building, sports complex, reservoir, and Miyawaki plantation. In Ahmedabad, he unveiled a new cooperative complex in Adaroda village and a primary school in Juwal.These projects, under the Model Co-op Village scheme, aim to boost education, sustainability, and rural development across the state. ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?