India’s Tata Power Company said on Thursday that BlackRock Real Assets and Abu Dhabi’s Mubadala Investment Company would invest 40 billion rupees ($525.76 million) in the company’s renewable energy unit for a 10.53% stake.

Tata Power Renewables is targeting a portfolio of over 20 gigawatts (GW) of renewables assets over the next five years, from 4.9 GW currently, Tata Power said in a regulatory filing.

The investment, through equity or compulsorily convertible instruments, translates to a base equity valuation of 340 billion rupees for Tata Power Renewable Energy.

Read more: Reuters