Tata Power Ltd. is reportedly in confidential discussions to purchase the 74% stake held by ICICI Venture, Kuwait Investment Authority, and Oman Investment Authority in Resurgent Power Ventures Pte, the joint venture responsible for managing a portfolio of power generation and transmission assets.

Currently, Tata Power maintains a 26% equity stake in Resurgent Power through its Singapore-based subsidiary. The remaining 74% is held by a consortium comprising ICICI Venture, KIA, and OIA. These shareholders are seeking a valuation of approximately $2.1 billion for the entire company, including its debt.

If successful, the acquisition would grant Tata Power full control over Resurgent’s asset base. This includes a controlling interest in Prayagraj Power Generation Co. (operating a 1,980 MW coal-fired plant) along with other transmission assets in northern India—key components of India’s power infrastructure. Full ownership would enable Tata Power to accelerate strategic integration, optimize operations, and streamline investment decisions across its generation and transmission portfolios.

Discussions remain ongoing and non-binding with no guarantee of a concluded agreement. Tata Power is collaborating with financial advisors to navigate the negotiations. None of the involved parties have publicly commented on the matter

This move signals Tata Power‘s aspiration to expand its energy footprint and gain more autonomy over power assets. By consolidating control, the company could better manoeuvre through India’s energy transition agenda, emphasizing a balance between conventional and renewable generation while investing in grid resiliency. The outcome of negotiations will be closely watched by industry analysts, who see this as a potential milestone in consolidating Tata Power’s position within India’s evolving energy sector.