ADB commits Rs 150 cr to Tata Power Delhi Distribution
Besides, Asian Development Bank (ADB) agreed to provide $2 million grant to partially finance the purchase and integration of a pilot battery energy storage system (BESS), a statement said.
NEW DELHI: Multilateral funding agency ADB on Monday said it proposes to subscribe non-convertible debentures worth Rs 150 crore of Tata Power Delhi Distribution, to enhance Delhi’s power distribution through grid enhancements. Besides, Asian Development Bank (ADB) agreed to provide $2 million grant to partially finance the purchase and integration of a pilot battery energy storage system (BESS), a statement said.
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, it said.
The 10-megawatt-hour 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.
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