Tata Power surges after its JV inks pact with Asian Development Bank!

Tata Power surges after its JV inks pact with Asian Development Bank!

by 5paisa Research Team Last Updated: Apr 10, 2023 - 05:37 pm 578 Views
Listen icon

An agreement with Asian Development Bank (ADB) to enhance Delhi’s power distribution.      

A $2 million Grant

Tata Power Delhi Distribution (TPDDL), a joint venture between Tata Power and the Government of NCT of Delhi, has entered into an agreement with the 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.

Share price movement of Tata Power Limited

Today, the stock opened at Rs 195.20, with a high and low of Rs 197.70 and Rs 195.10. The stock closed trading today at Rs 195.75, up by 0.31%.

The stock has a 52-week high of Rs 298.00 and a 52-week low of Rs 182.45. The company has a market capitalisation of Rs 62,548.77 crore.

Company profile

Tata Power Company Limited is primarily involved in the business of the generation, transmission and distribution of electricity. It aims to produce electricity completely through renewable sources. It also manufactures solar roofs and plans to build 1 lakh EV charging stations by 2025.

Share Market Today

How do you rate this article?


Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage


About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.


Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
Open Free Demat Account
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest News
Gandhar Oil Refinery India IPO debuts with a 76.33% premium on NSE

Strong listing for Gandhar Oil Refinery (India) IPO, but modest gains after that

Tata Technologies IPO Lists at 140%; surges further by 10.56%

Tata Technologies IPO has a premium listing plus a surge after that

Rockingdeals IPO Skyrockets 114.29% on Listing, Hits Upper Circuit

Premium listing for Rockingdeals Circular Economy IPO, then upper circuit