BlackRock and Mubadala to invest $525m in India’s Tata Power Renewables – The National
BlackRock and Mubadala to invest $525m in India’s Tata Power Renewables – The National
A consortium led by BlackRock Real Assets, which includes Abu Dhabi’s Mubadala Investment Company, will invest 40 billion Indian rupees ($525 million) in a subsidiary of India’s Tata Power Company to create the country’s “most comprehensible” renewable energy platform.
The consortium will receive a 10.53 per cent stake in Tata Power Renewables, translating to a base equity valuation of $4.46bn, Mubadala said in a statement on Thursday.
The final shareholding will range from 9.76 per cent to 11.43 per cent, based on final conversion, it said.
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