Investor Presentaiton
TATA POWER
Transaction Details
TATA
TRANSACTION
INVESTMENT
STRUCTURE
RENEWABLE HOLDCO
■ BlackRock (along with Mubadala as co-investor) – BLK SPV will invest in Tata Power Renewable Energy Ltd (TPREL)
■ Pre-money base equity valuation of 34,000 Crore subject to adjustments based on FY 23 EBITDA
■ The BLK SPV will invest 4,000 Crore in two equal tranches of 2,000 Crore each:
Tranche 1 through Equity: 2,000 Crore on the Closing Date
Tranche 2 through Convertible Securities: 2,000 Crore after 6 months
■ Final Shareholding of BLK SPV in TPREL: 9.76% -11.43%
■ TPREL will become the holding company of all renewable business - Utility Scale Generation Business including EPC
and O&M service, Manufacturing business (including solar cells and modules), Rooftop EPC and PPA, Solar Pumps
and EV Charging Business
■ All future renewable business will be developed under this holdco
TRANSACTION
TIMELINES
■ Transaction is subject to customary approvals
■ Transaction is expected to close in next 2-3 monthsView entire presentation