Power Sector

The loan amount will be used to fund the company's $1.6 billion investment announced in August to create clean energy projects.

The project is estimated to be concluded within 24 months of signing the 25-year power purchase agreement.

The pilot project attempts to demonstrate the fundamentals of how electric vehicles (EVs) interact with the grid.

NIIF will shortlist bidders in the next weeks, allowing them to undertake due diligence on the company before submitting binding financial proposals.

The board of directors also declared a final dividend of ₹1.50 per equity share for fiscal year 2024, which is 150% of the face value.

Tata Power reported that in FY24, the company achieved its highest-ever revenue and EBITDA of ₹61,542 Crore and ₹12,701 Crore, respectively.

The company is on a fast track to convert to green energy, with the goal of generating around 70% of its capacity from non-fossil fuels by 2030.

Adani Green's shares rose to ₹1,790 per share following the news of this development, before falling back to ₹1,770.

NTPC's total installed and commercial capacity on a standalone and group basis have reached 59,135 MW and 76,015 MW, respectively.

The state-run firm's topline increased 34.3% to ₹1,391.64 Crore in Q4 FY24, compared to ₹1,036.32 Crore in the same period last year.