BlackRock Real Assets’ Consortium Investment in Tata Power Renewable Energy Limited

In UK Slaughter and May, advised on the matter.

Slaughter and May advised BlackRock with a team including Robin Ogle (Picture – Corporate M&A), Phil Linnard (Employment), Oliver Moir (Energy & Infrastructures), Azadeh Nassiri (Finance), Laura Houston (IP&IT), Samantha Brady (Public Law), Gareth Miles (Tax M&A and Deal Advisory).

BlackRock Real Assets (“BlackRock”) made a consortium investment in Tata Power Renewable Energy Limited (“Tata Power Renewables”), which will house the renewable energies businesses of The Tata Power Company Ltd including those in: Utility Scale Solar, Wind & Hybrid Generation assets; Solar Cell & Module Manufacturing; Engineering, Procurement and Construction (EPC) contracting; Rooftop Solar infrastructure; Solar Pumps and Electric Vehicle Charging infrastructure. Tata Power Renewables is one of the largest renewable energy companies in India. Its vertically integrated operations currently have approximately 4.9 GW of renewable energy assets.

The consortium, led by BlackRock, together with Mubadala, will invest approximately USD 525 million in exchange for a shareholding in Tata Power Renewables of between 9.76% and 11.43%. The transaction is subject to conditions precedent and customary regulatory approvals, with the initial subscription expected to be completed by June 2022.

Slaughter and May’s team included Robin Ogle (Picture), Partner, Valerie Kemp, Associate, Sophie Madden, Associate, Angus Tyrrell, Associate, Oliver Moir, Partner, Iain McCann, Associate, Emily Davis, Associate, Azadeh Nassiri, Partner, Adam Burk, Associate, Gareth Miles, Partner, Charles Osborne, Associate, Laura Houston,  Partner, Matthew Harman, Associate, Phil Linnard, Partner, Chris Sharpe, Associate, Philippa O’Malley, Associate and Samantha Brady, Head of Environmental Law.

Involved fees earner: Samantha Brady – Slaughter and May; Adam Burk – Slaughter and May; Emily Davis – Slaughter and May; Matthew Harman – Slaughter and May; Laura Houston – Slaughter and May; Valerie Kemp – Slaughter and May; Phil Linnard – Slaughter and May; Sophie Madden – Slaughter and May; Iain McCann – Slaughter and May; Gareth Miles – Slaughter and May; Oliver Moir – Slaughter and May; Azadeh Nassiri – Slaughter and May; Philippa O’Malley – Slaughter and May; Robin Ogle – Slaughter and May; Charles Osborne – Slaughter and May; Chris Sharpe – Slaughter and May; Angus Tyrrell – Slaughter and May;

Law Firms: Slaughter and May;

Clients: BlackRock;

Author: Giulia Di Palma