TIL Desk/Business/Mumbai-Tata Power International, the wholly owned subsidiary of Tata Power, and ICICI Venture on Friday announced the launch of a platform to facilitate investment in power projects. The platform has investment commitments from Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ), Kuwait Investment Authority, and Oman’s State General Reserve Fund.
The platform will raise an initial capital of $850 million from sponsors and partner investors either directly or through their affiliates. The platform will target acquisition of controlling stakes in power generating companies.
“This platform is one such step for assets that would be a win for all stakeholders, as it would be value-accreting, considering the assets would be near-completion or already operating,” said Anil Sardana, chief executive officer and managing director, Tata Power.
