Tata Power cancels energy InvIT deal with Malaysia’s Petronas

14 Apr 2021 Editorial Team

Tata Power's subsidiary Tata Power Renewable Energy Ltd (TPREL), has terminated its discussions with Malaysian oil and gas company Petroliam Nasional Berhad (Petronas) after a year-long negotiation to raise capital for its renewable energy business through a proposed infrastructure investment trust (InvIT).

The talks had led to an understanding, with Petronas agreeing to invest Rs 3,500-Rs 3,800 crore for about 30-35% stake in the InvIT at an enterprise value of Rs 18,813 crore. Besides Petronas, other institutional and financial investors were also to come on board in the future to invest in the InvIT.

TPREL decided to terminate the deal last week when both sides were in the final stages of discussions for negotiating a binding term sheet, a prominent media source had reported.

Tata Power is now looking for an initial public offering (IPO) of its renewable energy division. The company plans to create a separate entity that will hold the renewable projects along with rooftop solar projects and electric charging stations.

Last year, TPREL initiated talks to raise Rs 3,762 crore-Rs 5,643 crore for its renewable energy platform. The decision was expected to reduce Tata Power's net debt to Rs 25,000 crore from over Rs 36,000 crore.

Tata Power share prices plunged 6% after the announcement.

Image Source

Also read: Tata Power Solar doubles solar cells, modules manufacturing to 1.1 GW

Also read: World Bank to offer $648 mn to India for rooftop solar

Real Estate

07 Aug 2026

BXB Estates Sets AED 110 Million Jumeirah Golf Estates Record

BXB Estates has completed an AED 110 million residential transaction at Jumeirah Golf Estates, setting a new sales record for the prestigious Dubai residential community.Negotiated by Alfie Tabrez, Managing Partner of BXB Estates, the deal surpassed the previous record of AED 58 million for a completed ready villa in the development.The six-bedroom residence offers 21,714 sq ft of built-up space on a 15,873-sq-ft plot. It features nine bathrooms, four living lounges, a home office, bar lounge, private cinema and rooftop terrace.The property also includes a dedicated wellness area comprising a ..

SECR Floats Rs 6,019 Mn EPC Tender For Paradol Nagpur Link

South East Central Railway (SECR) has invited bids for an Engineering, Procurement and Construction (EPC) contract to build a new broad gauge single line between Paradol Takeoff Point and Nagpur Road Station in Chhattisgarh. The contract carries an estimated cost of Rs 6,019.0 mn and requires an earnest money deposit of Rs 120.4 mn. The work is framed as an EPC assignment intended to strengthen regional rail infrastructure. The tender, issued under number CAO-C-BSP-26-27-15, specifies a completion period of 730 days and a bid validity of 180 days. Two pre-bid meetings are scheduled for 24 Augu..

Indian Railways Reports Nine Per Cent Rise In July Freight Loading

Indian Railways handled 141.3 million tonnes (141.3 mn t) of freight in July, marking a rise of nine per cent year on year. Freight loading maintained a positive trajectory across the network compared with the same month last year. Passenger traffic also increased in July, contributing to higher overall network utilisation. The July outcome continued a pattern of steady monthly gains, reflecting gradual improvement in industrial and logistics activity. The growth in freight volumes reflected stronger demand across multiple sectors and improvements in logistics and train turnarounds. Enhanced r..