BlackRock & Mubadala invest in Tata Power Renewables

BlackRock & Mubadala invest in Tata Power Renewables: Tata Power’s renewable energy firm is getting an investment of $525m of a 10.53% stake by BlackRock Real Assets and Mubadala.Tata Power Renewables will contain 5 renewable business units of Tata Power, made up of utility scale solar, wind & hybrid generation assets, solar cell and module manufacturing and solar pumps as well as EV charging infrastructure.Tata Power Renewables presently has nearly 4.9GW of green energy assets.The planned investment is predicted to fund the firm’s growth plans, which contains its aim to have a portfolio of over 20GW of renewable assets as well as a market leading rank in the rooftop and EV charging sector throughout India.“We are pleased to invest alongside Tata Power in this well diversified & vertically integrated renewables business.“With one of the largest portfolios of solar & wind assets in the country and a very experienced management team, Tata Power Renewables is at the forefront of India’s ambition to secure greater energy stability for its citizens while positioning its economy for a low carbon future. India’s success in transitioning its energy economy will be crucial to the world’s ability to meet its climate goals.” announced BlackRock’s Global Head of Real Assets, Anne Valentine Andrews. The business dealing is subject to conditions precedent as well as customary regulatory approvals. BlackRock & Mubadala invest in Tata Power Renewables