Tata Power plans to raise up to USD750 million for green business

Tata Power plans to raise Rs 40-55 billion (USD500- USD750 million) for its subsidiary – Tata Power Renewables Energy Limited (TPREL).

The company has restarted fund-raising efforts for its renewables business, six months after pulling out of negotiations with Malaysia’s Petronas for a potential investment of USD2 billion. Tata Power plans to club its entire renewables portfolio – operating and pipeline independent power producer (IPP) assets, charging stations, rooftop solar, microgrids, panel manufacturing, engineering, procurement and construction (EPC) – into an umbrella entity and raise equity for the entire platform.