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US, UAE based corporations invest US$525 million in renewable energy

Tata Power Renewables is one of the largest renewable energy companies in India.

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US-based investment corporation BlackRock and Abu Dhabi- based firm Mubadala have agreed to invest in Tata Power’s renewable energy subsidiary, Tata Power Renewable Energy Limited. The total shareholding has been said to range from 9.76 percent to 11.43 percent.

The news release said, “BlackRock Real Assets, together with Mubadala, shall invest INR4,000 crore (~US$525 million) by way of equity / compulsorily convertible instruments for a 10.53 percent stake in Tata Power Renewables, translating to a base equity valuation of INR34,000 crore (~US$4.45 billion).”

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