Tata Power plans to raise $500 million for renewables unit
Tata Power is in consultations with several large pension and sovereign asset managers to raise at least $500 million ahead of an IPO by its renewable energy unit, The Economic Times reported.
Why it’s important: Talks are in the formal stage with the Canada Pension Plan Invest Board and Government of Singapore Investment Corp.
Major funds from the US and sovereign funds from the Middle East are also looking at the possible investments in Tata Power Renewables.
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