Private Equity

PE Fund Investments

BlackRock-led group to invest Rs 4,000-Cr in Tata Power Renewables

BSE Disclosure  

A consortium of investors led by BlackRock Real Assets and including Mubadala Investment Company are to invest INR 4,000 crore (about USS 525 million) in publicly listed Tata Power Company's renewable energy subsidiary, Tata Power Renewable Energy Limited, in return for an about 10.53% stake. The investment - via equity / compulsorily convertible instruments - will be used by the newly created platform which will house all renewable energy businesses of Tata Power including those in: Utility Scale Solar, Wind & Hybrid Generation assets; Solar Cell & Module Manufacturing; Engineering, Procurement and Construction (EPC) contracting; Rooftop Solar infrastructure; Solar Pumps and Electric Vehicle Charging infrastructure. Moelis & Company is the financial advisor to Tata Power, while JP Morgan is the financial advisor to BlackRock Real Assets. Cyril Amarchand Mangaldas are legal advisors to Tata Power while Slaughter & May and AZB & Partners are legal advisors to BlackRock Real Assets.