Business
Tata Power Likely To Raise Around Rs 5000 Crore For Its Renewable Energy Business: Report
Representative image
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.
Meanwhile, the company is also looking to go for an InVit whilst they also held talks with Petronas from Malaysia to carry out a prospective investment of around $2 billion. However, this particular negotiation didn’t result in an eventual transaction.
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.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.
Latest
