{"id":304195,"date":"2019-12-05T11:02:45","date_gmt":"2019-12-05T05:32:45","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=304195"},"modified":"2019-12-05T11:02:46","modified_gmt":"2019-12-05T05:32:46","slug":"tata-power-icici-bank-jv-acquires-manoj-gaurs-prayagraj-power-project","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/tata-power-icici-bank-jv-acquires-manoj-gaurs-prayagraj-power-project\/","title":{"rendered":"Tata Power-ICICI Bank JV acquires Manoj Gaur&#8217;s Prayagraj power project"},"content":{"rendered":"<p>A joint venture of Tata PowerNSE -0.09 % and ICICI BankNSE 1.24 % on Wednesday acquired real estate baron Manoj Gaur&#8217;s biggest power plant at Prayagraj in Uttar Pradesh by agreeing to takeover Rs 6,000 crore of debt of the company. Renascent Power Ventures Pvt Ltd, the wholly-owned subsidiary of Resurgent Power Ventures Pte, has acquired 75 per cent stake in Prayagraj Power Generation Co Ltd (PPGCL) which owns and operates 1,980 MW coal-based electricity generation unit, Tata Power said in a regulatory filing.<\/p>\n<p>Resurgent Power is a joint venture of ICICI Bank and Tata Power, while PPGCL is a subsidiary of Gaur&#8217;s Jaiprakash Power Ventures Ltd which has been shedding assets to cut debt.<\/p>\n<p>It has sold power projects of about 3,800 MW capacity in the last few years to settle debt of close to Rs 21,000 crore.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A joint venture of Tata PowerNSE -0.09 % and ICICI BankNSE 1.24 % on Wednesday acquired real estate baron Manoj Gaur&#8217;s biggest power plant at Prayagraj in Uttar Pradesh by agreeing to takeover Rs 6,000 crore of debt of the company. Renascent Power Ventures Pvt Ltd, the wholly-owned subsidiary of Resurgent Power Ventures Pte, has acquired 75 per cent stake in Prayagraj Power Generation Co Ltd (PPGCL) which owns and operates 1,980 MW coal-based electricity generation unit, Tata Power said in a regulatory filing. Resurgent Power is a joint venture of ICICI Bank and Tata Power, while PPGCL is a [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,239,136],"tags":[],"class_list":["post-304195","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/304195","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=304195"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/304195\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=304195"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=304195"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=304195"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}