Wall Street’s green warrior might soon partner with one of India’s most trusted conglomerates.
BlackRock chairman Larry Fink is considering an investment of $500-750 million in Tata Power Renewable Energy Ltd.
That will value the subsidiary of listed Tata Power at around $5 billion, a media report said.
BlackRock is the world’s largest asset manager.
Canadian pension fund CPPIB was another potential investor evaluating the opportunity.
The company is looking to close negotiations by December end.
BlackRock has dedicated pools of capital for green energy investments.
Tata Power has plans to expand its clean and green capacity to 80% by FY30.
Tata Power is a frontrunner in solar-wind hybrid power and market leader in solar rooftops.
