After the stock market closed, Tata Group company Tata Power informed that the company has signed an MoU with the Asian Development Bank. This agreement of $425 million ($4.25 billion) has been made for the clean energy project. In the exchange filing, the company said that Tata Power and Asian Development Bank (ADB) have signed an MoU during the ongoing climate conference (COP29) in Baku, Azerbaijan.

The company said that the objective of this agreement is to evaluate financing for several of its strategic projects aimed at enhancing India's power infrastructure and promoting renewable and clean energy.
The MoU outlines the evaluation of financing for several key ongoing projects, including a 966 MW solar wind hybrid project, pump hydro storage project, energy transition, decarbonization and battery storage. Share performance On Thursday, Tata Power's stock closed at Rs 408.45 with a gain of 0.086 per cent. In the last one year, the company's stock has seen a gain of 55.57 per cent. The 52-week high of the stock is Rs 494.85.