Asian Development Bank Commits Rs 150 Crore To Tata Power Delhi Distribution

rawan239

2 years ago

The Asian (ADB) has announced its plans to invest in non-convertible Debentures valued at Rs 150 crore in Tata Power Delhi Distribution Ltd (TPDDL). The Investment aims to improve Delhis power distribution through grid enhancements. Additionally, ADB has also approved a grant of USD 2 million to assist in the acquisition and integration of a pilot battery energy storage system (BESS). The Manila-based funding institution issued a statement confirming the developments

The proceeds from the senior secured financing will be utilized to establish

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a new 66/11-kilovolt grid, expand transformers, substations, feeder lines, and switching stations, install smart meters, and replace outdated electrical equipment and meters. In addition, the funding will also contribute to the development of a groundbreaking 10-megawatt-hour (MWh) battery energy storage system (BESS), which will be the first of its kind in South Asia when it comes to the distribution transformer level