January 18, 2024Anmol Nagpal

Tata Sons' Agratas in talks for green loan of up to $500 million

Agratas Energy Storage Solutions Pvt Ltd. is in talks with a group of banks to raise as much as $500 million via green loan, according to the sources.

Source: X Photo

The wholly owned subsidiary of Tata Sons Pvt Ltd develops battery cells, with factories in India and the UK.

Source: X Photo

Its facilities are designed to be powered by clean energy, according to the company’s website.

Source: PTI

Agratas would use the proceeds from the loan for its factories, as per the sources. The tenor would probably be more than five years.

Source: X Photo

Tata said last year it plans to set up a 20 gigawatt-hour lithium-ion battery plant in Gujarat.

Source: X Photo