Tata Power to appeal $490 million arbitration award in Singapore

Tata Power has announced plans to appeal to the Singapore Court of Appeal after the Singapore International Commercial Court dismissed its challenge against a $490.32 million arbitration award. The award was granted to Kleros Capital following a long-standing dispute originating from a 2013 attempt to jointly bid for a coal deposit in Russia.

Kleros Capital alleged that Tata Power used confidential information to secure a license for the project through its Russian arm, Far East Natural Resources, in 2018. An arbitration tribunal in July 2025 valued the lost project opportunity at approximately $1.02 billion, attributing 60% of that value to Kleros. The court rejected Tata Power’s arguments regarding the appointment of arbitrators, finding no breach of natural justice.

Tata Power has 28 days from August 26, 2026, to file its appeal. Separately, the company recently reported a consolidated net profit of ₹1,176 crore for the quarter ended June 30, 2026.