Tata Power Shares Soar as MoU with Asian Development Bank Unveils $4.25 Billion Financing Plan

Translate In Arabic

Tata Power shares experienced a notable increase of 2% today, reaching an intraday high of ₹416.70 on the Bombay Stock Exchange (BSE). This rise follows the company's signing of a memorandum of understanding (MoU) with the Asian Development Bank (ADB) during the COP29 climate conference in Baku, Azerbaijan.

The MoU aims to assess financing options for several projects, with a total estimated cost of $4.25 billion. This partnership is expected to bolster Tata Power's initiatives in clean energy and sustainability, aligning with global efforts to address climate change and transition to greener energy sources.