Tata Power partners with ADB for $4.25 billion clean energy
Tata Power Company and the Asia Development Bank have signed a MoU to evaluate $4.25 billion in funding prospects for large scale power projects in India. By this partnership, improvement of power infrastructure in this country will be realized while clean and renewable energy projects including wind, solar and hydro storage projects would be enhanced.
Similarly, the Druk Green Power Corporation (DGPC) and Tata Power Company Limited have executed an MoU for the joint venture for generation of at least 5,000 MW green energy in Bhutan. The following effort proving Tata Power’s commitment to expanding its coverage of renewable energy power in the area.
ADB and TPDDL earlier entered into an agreement in April 2023 under which TPDDL purchased non-convertible debentures of ₹1.5 billion and $2 million for enhancing Delhi’s power distribution through demonstration of battery energy storage system and enhancement of the existing grid.
The general investment of Tata electricity in generation of renewable energy ventures and strengthening of electricity framework in India and neighbouring locations is evident in these strategic partnerships.
