NRSS XXXVI was incorporated as a special purpose vehicle to establish and operate
transmission system for System Strengthening Scheme in Northern Region (NRSS-XXXVI) along with LILO of Sikar-Neemrana 400kV D/C line at Babai on Build-Own-Operate-Maintain (BOOM) basis.

Resurgent Power Ventures Pte Limited (Resurgent Power) has completed the acquisition of NRSS XXXVI Transmission Limited (NRSS) and settled the debt of the lender of NRSS XXXVI. The transaction is part of stressed asset resolution process initiated by PTC India Financial Services Ltd (PFS), lender of NRSS XXXVI through a competitive bidding process.

The transaction entails payment for one-time settlement of outstanding debt and purchase of equity shares for a total consideration of ₹ 127 crore and additional pay outs linked to certain events outlined in the share purchase and debt settlement agreement. When completed, the total enterprise value will be approx. Rs 470 crores.

Resurgent Power is co-sponsored by Tata Power and ICICI Bank and has other global reputed institutional investors. It was set up to acquire stressed assets in the Indian Power Sector. Tata Power International Pte. Ltd (TPIPL) (a wholly owned subsidiary of Tata Power), owns 26% stake in Resurgent Power and the balance 74% is held by ICICI Bank and other global investors. Resurgent Power owns 75.01% stake in Prayagraj Power Generation Company Limited, which owns and operates a 1.980 MW supercritical power plant in Uttar Pradesh.

NRSS XXXVI Transmission Limited acquired by Resurgent Power Ventures