TPDDL signs $20.2 million finance deal with ADB

Tata Power Delhi Distribution Limited (TPDDL) has inked a deal with the Asian Development Bank (ADB) to raise Rs 1.5 billion through non-convertible debentures (NCDs) to improve Delhi’s power distribution through grid modifications. Aside from NCDs, ADB will arrange a $2 million grant for TPDDL to fund the procurement and integration of a pilot battery energy storage system (BESS) with the TPDDL network.