Larry Fink, chairman and CEO of New York City’s investment management corporation BlackRock, is closing in on an investment of $500-750 million in Mumbai-based Tata Power Renewable Energy Ltd. With this investment, the value of Tata Power’s subsidiary stands at close to $5 billion.
BlackRock’s chunky valuation of the business — buoyed by a $1 billion investment by TPG Rise in Tata Motors‘ electric vehicle business — made it a strong contender to be the main anchor investor.
Tata Power, the country’s largest integrated power company, has a stated plan to phase out coal-based capacity and expand its clean and green capacity to 80% by FY30. Renewable energy comprises almost a third of its total power capacity of 13 GW. The management hopes to increase this share to 80% by 2030, to improve its environmental, social and governance ratings. The company is increasingly looking at a holistic strategy across the clean energy business spectrum such as solar module manufacturing, solar pumps, and electric vehicle charging, that provide growth options and help position it as an integrated renewables player.
Last updated: December 26th, 2025
