Tata Power, ADB Ink $4.25B Deal
POWER & RENEWABLE ENERGY

Tata Power, ADB Ink $4.25B Deal

Tata Power and the Asian Development Bank (ADB) have committed to exploring financing for projects worth $4.25 billion, aimed at boosting renewable energy infrastructure, modernizing power distribution networks, and enhancing clean energy capacity in India. Key projects include:

966 MW Solar-Wind Hybrid Project Pumped Hydro Storage Solutions Battery Energy Storage Systems Distribution network upgrades These projects align with India's 500 GW renewable energy target by 2030, reinforcing the nation’s transition to clean energy.

Leaders Speak Dr. Praveer Sinha, CEO and MD of Tata Power, remarked on the transformative potential of the partnership, stating, “This collaboration is pivotal in driving India’s energy security and environmental sustainability.” ADB’s Suzanne Gaboury emphasized the shared vision for a low-carbon, climate-resilient future.

Inclusivity and Climate Resilience The MoU incorporates a focus on:

Gender Equality: Empowering women through access to green technologies and green jobs. Climate Resilience: Enhancing sustainable energy solutions that reduce reliance on fossil fuels. Supporting India’s Decarbonization The projects underscore Tata Power's commitment to reducing carbon dependency while strengthening India’s energy infrastructure and driving its decarbonization efforts.

This partnership marks a significant stride in achieving India’s climate goals and fostering sustainable development.

Tata Power and the Asian Development Bank (ADB) have committed to exploring financing for projects worth $4.25 billion, aimed at boosting renewable energy infrastructure, modernizing power distribution networks, and enhancing clean energy capacity in India. Key projects include: 966 MW Solar-Wind Hybrid Project Pumped Hydro Storage Solutions Battery Energy Storage Systems Distribution network upgrades These projects align with India's 500 GW renewable energy target by 2030, reinforcing the nation’s transition to clean energy. Leaders Speak Dr. Praveer Sinha, CEO and MD of Tata Power, remarked on the transformative potential of the partnership, stating, “This collaboration is pivotal in driving India’s energy security and environmental sustainability.” ADB’s Suzanne Gaboury emphasized the shared vision for a low-carbon, climate-resilient future. Inclusivity and Climate Resilience The MoU incorporates a focus on: Gender Equality: Empowering women through access to green technologies and green jobs. Climate Resilience: Enhancing sustainable energy solutions that reduce reliance on fossil fuels. Supporting India’s Decarbonization The projects underscore Tata Power's commitment to reducing carbon dependency while strengthening India’s energy infrastructure and driving its decarbonization efforts. This partnership marks a significant stride in achieving India’s climate goals and fostering sustainable development.

Next Story
Resources

Security solutions: Godrej aims for 50 percent revenue surge

The Security Solutions business of Godrej & Boyce, part of Godrej Enterprises Group, has set an ambitious goal of achieving a 50 percent growth in revenue by FY27, targeting a top-line of Rs 15 billion. This marks a significant leap from the Rs 10 billion revenue recorded in FY24, driven by a sharpened focus on expanding exports to the Americas and Europe, alongside leveraging domestic regulatory changes.The company’s exports currently contribute around 10 percent of the division’s revenue with significant potential for growth. By FY27, exports are projected to account for 14-15 percen..

Next Story
Resources

India's luxury housing market soars: CREDAI-MCHI

CREDAI-MCHI, the apex body of real estate developers, has unveiled its latest research analysis, spotlighting a transformative shift in India's urban housing markets towards luxury and premium properties. The study reveals significant growth in average ticket sizes and total sales values across India’s top seven metropolitan cities during H1 FY2025 (April-September 2024).  The data highlights a remarkable 18 percent increase in total sales value, which surged to Rs 2,793 billion, compared to Rs 2,358 billion in the same period of FY2024. Despite a modest 3 percent decline in total units..

Next Story
Equipment

Our commitment to excellence drives our success: Gmmco

In India's dynamic industrial landscape, Gmmco, a comprehensive solutions provider across the construction, resources and energy transportation industries, stands as a testament to innovation. As a powerhouse of the CK Birla Group with a legacy spanning over five decades, it has evolved from a traditional equipment supplier to a full-spectrum solutions provider. Its distinctive approach includes rental solutions, used equipment options, financing support, rebuilt options and tailored product support solutions, setting new benchmarks in customer service. Under the visionary leadership of C..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000