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BlackRock-led consortium to invest Rs 4,000 cr in Tata Power Renewables

The BLK SPV, along with Mubadala as co-investor, will invest Rs 4,000 crore in two equal tranches of Rs 2,000 crore each

The BlackRock logo is seen outside of its offices in New York
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BS Web Team New Delhi
Tata Power said on Thursday that a BlackRock Real Assets-led consortium, including Mubadala Investment Company, would invest Rs 4,000 crore for a 10.53% stake in the company's renewable energy unit. This translates to a base equity valuation of Rs 34,000 crore for Tata Power Renewables, the company said in a stock exchange filing. 

The first round of investment is expected to be completed by June and the rest by the end of 2022. The final shareholding will range from 9.76% to 11.43% on final conversion.

The BLK SPV will invest Rs 4,000 crore in two equal tranches of Rs 2,000

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