Tata Power Will Raise More Than $1 Billion For Its Clean Energy Projects

Tata Power will raise around $1 billion for clean energy projects. If the loan is approved, the company will become the holder of India’s most prominent local currency loan in the current year. Tata Power will set up a new clean energy project with the funds. The company is actively participating in green energy projects, which comprise a good percentage of its business. Tata Power is discussing the matter with multiple banks. 

Tata Power will raise $1 billion for its clean energy project and use the funds to complete its green energy project. They have yet to allocate the exact amount for every segment of their upcoming business. Tata Power will use this money to improve its results. It is called the Pumped Hydro Storage Energy Project. Thus, the company will have more green power options. As the world moves ahead, the need for renewable energy increases. 

Three big giants, Adani Green Energy, Tata Power, and Reliance Industries, are levelling their efforts. The three of them are working towards increasing the capacity of green power even more. Tata is looking for loans from different banks, including ICICI Bank, SBI Bank, IndusInd Bank, and Axis Bank. The loan will be considered the most significant local currency loan by a company. Before this, Assam Bio-Refinery had the most significant local currency loan. The deal has been finalised for $365 million in February by Assam io Refinery.

The bank will make the credit settlement within three to six months. If it successfully achieves the credit, the company will become the holder of the largest local currency loan. To Conclude, Tata Power will raise $1 billion in loans for clean energy projects. The company will be working further to expand its green energy projects. It plays a crucial role in utilising the resources. Green Energy refers to all the renewable energy sources that create energy with natural sources like wind, tides, sunlight, water, etc. 

Tata Power’s share price is currently Rs. 447.20 per share. The company’s share performed well in the previous month. Tata Power increased its share price by 15.50 points, and it provided 65.05% growth in the six months. The market opened at 449.15 with a Market Cap of 1.43 LCR. The company’s P/E ratio is 38.66. Meanwhile, the dividend yield is 0.45%. We will provide more updates shortly.