Tata Power announces Rs 13,000cr pumped hydro storage projects in Maharashtra
Tata Power has signed a Memorandum of Understanding (MoU) with the Maharashtra Government to build two major Pumped Hydro Storage projects (PSP) in Maharashtra. With a collective capacity of 2800 Megawatts (MW) and an estimated investment nearing ₹13,000 crore, these ventures will be located in Shirawta, Pune (1800 MW), and Bhivpuri, Raigad (1000 MW) districts.
Aligned with Maharashtra’s Economic Goals
Beyond energy production, this collaboration has larger economic implications. Maharashtra seeks to evolve into a $1 trillion economy by 2028, and these projects are pivotal for achieving this. Furthermore, the initiative promises to create jobs, benefiting over 6,000 individuals.
MoU Signing: A Grand Event
Marking this monumental partnership, an official signing ceremony was hosted at Mumbai’s Mantralya. Among the attendees were Maharashtra’s Deputy Chief Minister, Shri Devendra Fadnavis, Abha Shukla from the Energy Department, along with Tata Power’s top-tier management, Dr. Praveer Sinha, Vijay Namjoshi, and Prabhakar Kale.
Speaking at the occasion, Dr. Praveer Sinha, CEO & MD, Tata Power, expressed, “The signing of this MoU is a major step forward in the Tata Power’s journey towards a clean and green energy future. Pumped Hydro Storage is a reliable and efficient way to store energy, and these projects will support the renewable solar and wind projects to ensure a reliable, 24/7 consistent power supply.”
Maharashtra Government and Tata Power Seal ₹13,000 Crore Deal for Pumped Hydro Storage. Photo courtesy of Tata Power.
Pumped Hydro Storage: A Future-Ready Solution
Pumped Hydro Storage projects are pivotal for Maharashtra’s energy outlook. They capitalize on water’s kinetic energy, ensuring a consistent power source. They also fortify the state’s energy reserves: when there’s surplus energy, water is pumped to a higher reservoir; during peak demand, this stored water activates turbines, producing electricity. Consequently, these projects bolster energy security, integrating seamlessly with other renewables like solar and wind.
Tata Power’s Legacy and Vision for a Greener Future
The Western Ghats, with its unique terrain, offers vast opportunities for Pumped Storage Hydro Projects. Tata Power’s footprint in this region is over a century old, operating three hydro power projects. These ventures have catalyzed Mumbai’s economic growth. This new MoU, underscoring grid stability and sustainable energy, encapsulates Tata Power’s dedication to a sustainable tomorrow.