BlackRock may partner with Tata Power soon
American multinational investment management corporation plans to associate with Tata Power Renewable Energy Limited. The CEO of BlackRock said he remains plans to close investment of Rs. 3,750 crores – Rs. 5,625 crores in Tata Power. As of source, the American investment lender remains the world’s largest asset manager.
Moreover, Fink was the earliest champion of climate change and sustainability-linked investment. A source said as Tata Power has planning to implement its capital-raising plans in six months.
Another potential investor was the Canadian pension fund CPPIB. But with a massive valuation of the business – which was boosted by TPG Rise’s $1 billion investment in Tata Motors’ electric vehicle business.
“THE KEY IS IN NOT SPENDING TIME, BUT IN INVESTING IT.”
However, BlackRock has a better chance of becoming the main anchor investor.
After selecting latent investors, due diligence has started. Discussions do expect to wrap up by the end of December. It’s possible for the company to raise an additional $1 billion with multiple smaller co-investors, depending on investor appetite.