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Tata Power and Maharashtra government join for 2,800 MW projects at Rs 13,000Cr

Aug 9, 2023

By: BlinkX Research Team

Tata Power has revealed a significant investment of Rs 13,000 crore for the establishment of two pumped hydro storage projects (PSPs) in Maharashtra. The company has not disclosed a specific timeline for this investment; however, the combined capacity of the two projects is expected to reach 2,800 MW.

A PSP operates by pumping water from a lower reservoir to a higher one during periods of surplus energy, subsequently utilizing the stored water to drive turbines located at a lower elevation, generating electricity during peak demand. These forthcoming PSPs will be situated in Shirawta, Pune (1,800 MW), and Bhivpuri, Raigad (1,000 MW), generating employment opportunities for around 6,000 individuals.

Tata Power's historical engagement in hydel projects within the state spans over a century, with active projects in Khopoli, Bhira, and Bhivpuri, with Bhira incorporating a 150 MW PSP capacity.

The collaboration between the Maharashtra government and Tata Power was formalized through a memorandum of understanding (MoU) signed in the presence of the state's deputy chief minister, Devendra Fadnavis.

Content source: Media reports