New platform company to invest $850M in power projects
India: Tata Power and ICICI Venture have launched a new platform company to invest in Indian power projects over the next two-three years.
The new platform, Resurgent Power Ventures, will have an initial capital of about $850 million, raised from the sponsors and partner investors either directly or through their affiliates, reports EBR.
The platform, which will target power projects in advanced stages and near operational readiness or operating, will increase its investment based on market opportunities.
Tata Power said that the platform will also target acquisition of controlling stakes in power generating companies, as well as transmission assets in the country.