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Tata Power in Talks to Acquire Full Control of Resurgent Power Ventures

Tata Group is reportedly in advanced discussions to buy out fellow shareholders in Resurgent Power Ventures Pte, a Singapore-based power generation and transmission company. Tata Power currently holds a 26% stake in Resurgent through a subsidiary and is working with advisers to acquire the remaining stakes held by ICICI Venture Funds Management, Kuwait Investment Authority (KIA), and Oman Investment Authority (OIA).

The investors collectively hold a 74% stake in the company and are seeking a valuation of around $2.1 billion, including debt. Although negotiations are underway, sources noted there is no guarantee that a final agreement will be reached. This move aligns with Tata Power's strategy to strengthen its presence in the core energy space by consolidating assets and enhancing control over strategic ventures.

Neither Tata Power nor the investor groups involved have issued official comments, maintaining confidentiality around the discussions. If successful, this acquisition would allow Tata Power to fully control Resurgent’s operations and better integrate its generation and transmission businesses under its long-term growth plans.