Debt

Debt financing

Tata Power to raise $4.25 B from ADB for clean energy funding

Business Line  

Tata Power has signed an agreement with the Asian Development Bank (ADB) for a funding arrangement of USD 4.25 Billion to finance clean energy power projects.The agreement details several projects that are being evaluated for financing such as the 966 MW solar wind hybrid project, the pumped hydro storage project and other projects in the pipeline around energy transition, decarbonisation, and battery storage. The arrangement also includes ongoing financing for capex towards strengthening the distribution networks managed by the company.