24 May 2024
Tata Power, a major Indian power player, is revving up its clean energy game by seeking a massive loan – potentially the largest local currency loan for clean energy projects in India this year!
Financing a Sustainable Future
$1 Billion Green Loan Target: Tata Power is in talks with lenders to secure a loan of up to $1 billion, a major boost for clean energy projects in India.
Pumped Hydro Power on the Horizon: The loan proceeds are earmarked for a $1.6 billion investment in pumped hydro storage, a clean energy storage solution.
Clean Energy Champions: This move aligns with India's goal of tripling its green power capacity by 2030, alongside efforts by other companies like Adani Green Energy and Reliance Industries.
Tata Power's Growth Trajectory
Fourfold Increase in Renewables: Tata Power is aiming for a significant increase in its renewable energy generation capacity by 2027.
Loan Details in the Works: The loan structure is being finalized, with potential options including bilateral loans or clubbed facilities. Disbursements will be phased based on project progress.
Competitive Loan Rates Expected: Negotiations are underway, but the loan is expected to be priced competitively using local benchmarks.
Tata Power's pursuit of this substantial loan signifies a major commitment to clean energy. This financing, if successful, will be a significant step forward for India's clean energy goals and inspire further investment in renewable power solutions.