The Tata Power and BlackRock Real Assets-led consortium, including Abu Dhabi based Mubadala Investment Company, have entered into a binding agreement to invest in Tata Power’s renewable energy subsidiary, Tata Power Renewable Energy Limited.
BlackRock Real Assets, together with Mubadala, will invest Rs 4,000 crore, i.e. US$ 525 million, by way of equity or compulsorily convertible instruments for a 10.53 per cent stake in Tata Power Renewables, translating to a base equity valuation of Rs 34,000 crore.