TATA POWER TO CREATE COMPREHENSIVE RENEWABLE ENERGY PLATFORM RAISING RS 4,000 CR

The Tata Power Company and BlackRock Real Assets-led con-sortium, including Mubadala Investment Company, have entered into a binding agreement to invest in Tata Power’s renewable energy subsidiary, Tata Power Renewable Energy.

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BlackRock Real Assets, together with Mubadala, shall invest Rs 4,000 crore by way of equity/ compulsorily convertible instruments for a 10.53% stake in Tata Power Renewables, translating to a base equity valuation of Rs 34,000 crore. The final shareholding will range from 9.76% to 11.43% on final conversion.