Tata Power Likely To Raise Around Rs 5000 Crore For Its Renewable Energy Business: Report

Tata Power is negotiating with bigwig investors to raise about Rs 4,478 crore-Rs 5,225 crore for its renewable energy business at an equity valuation of about $6 billion-$7 billion, Economic Times reports.

The company is in talks with the likes of General Atlantic, Temasek Holdings and also the Canadian Pension Plan Investment Board (CPPIB).

Apparently, the sovereign money managers from the middle-east were also being explored for this asset monetisation drive.

Tata Power’s renewable energy businesses has an operating capacity of 2.6 GW currently and has set targets of establishing a total capacity of 15 GW and 25 GW by FY25 and FY30 respectively.

The company had clubbed its whole renewables portfolio under the ambit of an umbrella entity back in 2021. Their largest capacity is in Karnataka (517 MW), Rajasthan (400 MW) and Andhra Pradesh (306 MW) respectively, as reported by the aforementioned publication.