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Tata Power’s JV inks pact with Asian Development Bank

10 Apr 2023 Evaluate

Tata Power Delhi Distribution (TPDDL), a joint venture between Tata Power and the Government of NCT of Delhi, has entered into an agreement with Asian Development Bank (ADB) to enhance Delhi’s power distribution through grid enhancements, and a $2 million grant to partially finance the purchase and integration of a pilot Battery Energy Storage System (BESS). The senior secured financing will be used to commission a new 66/11-kilovolt grid, augment and expand transformers, substations, feeder lines, and switching stations, install smart meters, and replace obsolete electrical equipment and meters.

The 10-megawatt-hour (MWh) BESS is South Asia’s first grid-scaled energy storage project at the distribution transformer level. It will enable electricity to be stored and delivered on demand, reducing grid instability, and providing the flexibility to integrate intermittent solar and wind energy resources. The grant to finance the BESS is provided by Goldman Sachs and Bloomberg Philanthropies’ Climate Innovation and Development Fund (CIDF) and administered by ADB.

Tata Power Company is India’s largest integrated power company.

Tata Power Share Price

429.55 2.10 (0.49%)
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