Reportedly, Tata Power Limited is planning to secure up to $1 billion in local currency to finance clean energy projects, potentially marking the largest such loan in India this year. Discussions are underway with major lenders, including State Bank of India, IndusInd Bank, Axis Bank, and ICICI Bank.
This loan aims to support Tata Power’s $1.6 billion investment, announced in August, for developing pumped hydro storage projects.
The financing could take the form of either a bilateral loan or a clubbed facility, with the finalisation of credit lines expected within the next three to six months.