According to the firms, a consortium led by the world’s largest asset manager, BlackRock, and UAE sovereign wealth fund Mubadala Investment Co. agreed to invest 4,000 crore for 10.53 percent of Tata Power Renewables.
As part of the deal, BlackRock Real Assets and Mubadala will collectively own about 10% of Tata Power Renewable Energy Ltd (TPREL) and help India’s largest conglomerate expand its clean energy operations.
The first round of capital injection into Tata Power Renewables is planned to be completed by June, with the remainder by the end of the year, according to a joint statement issued by the firms on Thursday.
International Holding Co. PJSC, located in Abu Dhabi, agreed to invest $2 billion in Adani Green Energy Ltd, Adani Transmission Ltd, and Adani Enterprises Ltd last week. Masdar, also known as the Abu Dhabi Future Energy Co., is controlled by Mubadala and purchased about 20% of Hero Future Energies Pvt. Ltd in November 2019 for $150 million.