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Tata Power Charges Up for Clean Energy with Potential Billion-Dollar Loan

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.

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