Petronas may invest in Tata Power’s InvIT

///Petronas may invest in Tata Power’s InvIT

Petronas may invest in Tata Power’s InvIT

by India Inc. Staff
Petronas may invest in Tata Power’s InvIT

Tata Power has been looking to raise up to $750 million through infrastructure investment trust.

Malaysian state oil and gas company Petroliam Nasional Bhd (Petronas) is in active discussion with Tata Group to become a key investor in Tata Power’s planned renewable energy infrastructure investment trust (InvIT), people aware of the matter told The Economic Times. Talks with Petronas have reportedly progressed, and the Malaysians are believed to be currently conducting due diligence.

Tata Power has been looking to raise up to $750 million through InvIT. Tata Power approached several private equity firms including KKR & Co, Brookfield, Mubadala, among others.

Tatas are open to selling 51 per cent of the InvIT to investors and are looking at a valuation of up to $2.5 billion for its 3.8 gigawatt solar and wind portfolio.

If the deal is successful, Tata Power will join Larsen & Toubro, Reliance Industries, Sterlite, and Piramal Enterprises in creating investment trusts for operational infrastructure assets.

2020-06-07T08:57:45+00:00June 6th, 2020|India Inc Views - India Global Business, News in Brief|

About the Author: India Inc. Staff