Tata Power‘s share price was back in the green on Friday morning, set to halt its two-day losing streak. The movement comes today as the company provided an update on a legal matter it is involved in.

What Happened: Tata Power and Indonesia-based Adaro International are embroiled in a legal dispute over a coal supply agreement, with both companies seeking compensation from one another. The conflict stems from a contract signed in August 2020 for the supply of high-calorific coal for Tata Power’s Trombay plant.

Adaro, a Singapore-based Indonesian mining company, accused Tata Power of breaching the contract and initiated arbitration, claiming $106 million (around ₹879.8 crore) in damages. Tata Power responded with a counterclaim of $229.94 million (around ₹1,908 crore) for the non-supply of coal.

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Despite the legal conflict, both parties have engaged in serious discussions to amicably resolve the dispute but have also agreed to move forward with arbitration through the International Chamber of Commerce International Court of Arbitration (ICC ICA). The arbitration process is still in its preliminary stages, with the arbitral tribunal yet to be constituted.

Earlier this week, Tata Power Renewable Energy, a subsidiary of Tata Power, secured a 400-megawatt hybrid project from the Maharashtra State Electricity Distribution Company Limited (MSEDCL), marking its largest renewable energy project in Maharashtra.

In other developments, Tata Power Renewable Energy and Tata Motors signed a contract to set up 200 fast-charging stations for electric commercial vehicles across major Indian cities.

Price Action: Tata Power’s share price was up 1.01% at ₹444.05 in early trade on Friday.

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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.