RIYADH: Saudi Arabia’s Public Investment Fund is eyeing a stake in Tata Power Co. Ltd’s green energy business, Mint reported citing people familiar with the matter.
The business, tentatively called “consumer renewables” will include all power assets of Tata except coal and carbon-fueled power projects, it added.
The PIF, as the fund is known, didn’t comment on the Mint’s report when contacted by Arab News.
PIF is the Saudi Arabian government’s most prominent investment arm with SR1.8 trillion ($480 billion) in assets under management.
Tata Power is one of the largest integrated power companies in India.
The company has operations in renewable and conventional energy, electricity transmission and distribution, coal and freight, logistics and trading.
Another report from Mint had earlier claimed that PIF is planning to invest in India’s infrastructure sector.
