The projects, which require an estimated investment of about $1.6bn, include a 1.8GW pumped hydro storage facility to be located in Shirawta, Pune and a 1GW pumped hydro storage project to be built in Bhivpuri, Raigad district
Tata Power signs MoU to develop two pumped hydro storage projects in Maharashtra with an estimated investment of $1.6bn. (Credit: Tata Power)
Tata Power has signed a memorandum of understanding (MoU) with the Maharashtra government to develop two pumped hydro storage projects with a combined capacity of 2.8GW in the Indian state.
According to the India-based integrated power company, the proposed clean energy projects require an estimated investment of about INR130bn ($1.6bn).
The projects include a 1.8GW pumped hydro storage facility to be located in Shirawta, Pune. The other pumped hydro storage project, which will be of a capacity of 1GW, will be built in Bhivpuri, Raigad district.
Tata Power indicated that the proposed pumped hydro storage projects are intended to improve energy security by delivering peaking and continuous power supply alongside other renewables like solar and wind.
Besides, the MoU aims to ensure grid stability, smooth integration of renewable sources, and a long-term impact on the energy landscape.
The proposed pumped hydro storage projects are expected to create employment for more than 6,000 people.
Tata Power CEO and managing director Praveer Sinha said: “The signing of this MoU is a major step forward in Tata Power’s journey towards 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 reliable, 24/7 consistent power supply. This is a historic moment for both Maharashtra and Tata Power, and we are proud to be a part of this initiative.”
Tata Power already operates three hydropower projects in the Western Ghats with a combined capacity of 693MW. The projects, which are all located in in Maharashtra are the Khopoli hydro generating station, the Bhivpuri hydro generating station, and the Bhira hydro generating station which includes a 150MW pumped storage hydro project.
In October 2022, Tata Power revealed plans to develop a 10GW clean energy portfolio in another Indian state, Rajasthan, in the next five years. The portfolio is planned to include up to 8GW of utility-scale projects as well as 1GW of solar rooftops and 1,50,000 solar pumps.