ADB Signs Agreement with TPDDL to Enhance Delhi’s Power Distribution
The Asian Development Bank (ADB) and Tata Power Delhi Distribution Limited (TPDDL) entered into an agreement to subscribe to non-convertible debentures for 1.5Bn Rupees to enhance Delhi’s power distribution through grid enhancements, and a USD 2Mn grant to partially finance the purchase and integration of a pilot battery energy storage system.
April 10, 2023. By News Bureau
The Asian Development Bank (ADB) and Tata Power Delhi Distribution Limited (TPDDL), the distribution arm of Tata Power, 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 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.
“Power distribution is a crucial link in the electricity supply chain, and at times one of the most vulnerable. Mainstreaming a battery energy storage system at the distribution transformer level will better integrate renewable energy sources and contribute to a more disaster-resilient power distribution system for Delhi,” said ADB’s Director General for Private Sector Operations Suzanne Gaboury. “As Asia’s Climate Bank, ADB supports India’s climate goals through innovative technologies and the catalyzing of private capital to finance green projects.”
“The battery energy storage system plays a crucial role in building a resilient grid and paves the way for a future-ready power distribution network. We thank ADB for administering this grant for the integration of the pilot BESS with TPDDL’s network. This will enable us in ensuring high-quality power supply for consumers and help integrate clean energy into the power supply mix,” said Tata Power CEO and Managing Director Dr. Praveer Sinha.
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