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

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..