Tata Power Signs $4.25 Billion Agreement with ADB

Tata Power has partnered with the Asian Development Bank (ADB) to finance clean energy initiatives worth $4.25 billion, announced during the COP29 climate conference in Baku, Azerbaijan. The agreement will support strategic projects including a 966 MW solar-wind hybrid project, pumped hydro storage, and advancements in battery storage and distribution networks, aimed at enhancing India's renewable energy infrastructure. CEO Praveer Sinha emphasized the collaboration as a vital step in exploring innovative financing solutions to promote sustainable growth and align with India's clean energy goals. The partnership also focuses on inclusivity, integrating gender and climate actions to empower women in green technology deployment and access to green jobs. ADB's Suzanne Gaboury highlighted the shared vision for a low-carbon and climate-resilient future, reinforcing India's transition towards sustainable energy solutions.