Tata Power, ADB ink pact for $4.25 bn finance for key energy projects

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Tata Power, ADB ink pact for $4.25 bn finance for key energy projects - Business Standard

Quick Summary:

Tata Power on Thursday said it has signed an initial pact with Asian Development Bank (ADB) to evaluate financing worth USD 4.25 billion for its several strategic projects.

The MoU outlines the evaluation of financing for several key ongoing projects such as the 966-MW solar wind hybrid project and pumped hydro storage project and other projects in the pipeline around energy transition, decarbonisation, and battery storage as well as ongoing financing for capex towards strengthening the distribution networks.

"The MoU has been signed evaluate financing for its several strategic projects aimed at enhancing India's power infrastructure and promoting renewable and clean energy," it said.