BlackRock, Mubadala eye a slice of Tata’s green venture
- Asset manager and UAE fund look to invest $500 mn and $200 mn, respectively, in entity
- The growing interest in India’s green energy space comes amid investors’ focus on ESG goals
The world’s biggest asset manager, BlackRock, and UAE sovereign wealth fund Mubadala Investment Co. are in talks to invest around $500 million and $200 million, respectively, in a proposed new energy entity being floated by Tata Power Co. Ltd, two people aware of the development said. The new vehicle will house all the renewable energy assets of Tata Power, including hydropower, as well as its transmission and distribution business.