Tata Power has resumed fundraising efforts for its renewables business, Tata Power Renewables Energy, according to the Economic Times.
The company is seeking to raise INR 4,000-5,500 crore ($500 million-$750 million).
Earlier this year, Tata Power had planned to launch a renewable-energy infrastructure investment trust with external investor; however, the plan was scrapped when a potential partnership with Malaysian petroleum giant Petronas came to a halt. Petronas was expected to invest around $500 million to acquire a 30–35 percent stake in the public listing of Tata Power’s infrastructure investment trust, according to CleanTechnica.
This time around, Tata Power is reportedly planning to group its entire renewables portfolio into an umbrella entity and raise equity for the entire platform. The renewables portfolio includes operating and pipeline independent power producer assets, charging stations, rooftop solar, microgrids, panel manufa
