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Below the Comment on Tata Power's collaboration for a  $4.5bn. investment with ADB by Viswajit Srinivasan, a senior banker of Indian origin based out of UK

The MoU signed between the Tata Group and ADB with the backdrop of COP29 represents yet another example of confidence being reposed in  investing in the Indian renewables sector. It is unclear what the nature of support from ADB would be as part of this strategic partnership and whether there would be an element of subsidy or grant funding involved in specific financing proposals that form part of the scope of investments. The range of investments targeted include more mature segments such as solar and wind projects as well as battery storage projects ; with additional support for upgradation of distribution networks of Tata Power, this MoU would likely help build new renewable infrastructure, modernise existing infrastructure and help India inch closer towards meeting sustainability and Net Zero. Renewable energy contributes ~ 45% of overall installed electricity generation capacity and India's power demand is projected to grow at 8%+ over the next 12 months and this investment reflects the growing interest in opportunities available in India for patient capital.

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