Tata Power secures $20.2m for Delhi storage & grid upgrade

April 19, 2023

The Asian Development Bank (ADB) and Tata Power Delhi Distribution Limited, the distribution arm of Tata Power Co Limited, have entered into an agreement to subscribe to non-convertible debentures for 1.5 billion Indian Rupees (equivalent to $18.2 million) to enhance Delhi’s power distribution through grid enhancements, and a $2 million grant to partially finance the purchase and integration of a pilot 10MWh battery energy storage system (BESS).

The BESS is South Asia’s first grid-scaled energy storage project at the distribution transformer level. The grant to finance the BESS is provided by Goldman Sachs and Bloomberg Philanthropies’ Climate Innovation and Development Fund (CIDF) and administered by ADB.

In 2022 India’s Ministry of Power targeted battery storage capacity of 4% of total electricity consumption by 2030. To reach that goal, India would need a total battery energy storage capacity of 182 gigawatt-hours by 2030.