Slaughter and May is advising BlackRock Real Assets on a consortium purchase of an equity stake in Tata Power Renewable Energy Limited

Slaughter and May is advising BlackRock Real Assets (“BlackRock”) on its consortium investment in Tata Power Renewable Energy Limited (“Tata Power Renewables”), which will house the renewable energies businesses of The Tata Power Company Ltd including those in: Utility Scale Solar, Wind & Hybrid Generation assets; Solar Cell & Module Manufacturing; Engineering, Procurement and Construction (EPC) contracting; Rooftop Solar infrastructure; Solar Pumps and Electric Vehicle Charging infrastructure. Tata Power Renewables is one of the largest renewable energy companies in India. Its vertically integrated operations currently have approximately 4.9 GW of renewable energy assets.

The consortium, led by BlackRock, together with Mubadala, will invest approximately USD 525 million in exchange for a shareholding in Tata Power Renewables of between 9.76% and 11.43%. The transaction is subject to conditions precedent and customary regulatory approvals, with the initial subscription expected to be completed by June 2022.