Tata Power, one of India’s largest Integrated Power companies, and the Government of Maharashtra have signed a Memorandum of Understanding (MoU) to develop two large Pumped Hydro Storage projects (PSP) with a combined capacity of 2.8 Gegawatts (GW) in the Indian state.
With an estimated investment of roughly INR 130 billion (USD 1.57bn), these projects will be situated in Shirawta, Pune (1.8 GW) and Bhivpuri, Raigad (1 GW) districts and will generate employment for over 6,000 people. The two plants will be built on hydropower stations owned by Tata Power in the Western Ghats region.
Tata Power said the projects will use the kinetic energy of water to create a stable and reliable power supply. During times of excess energy, water will be pumped from the lower reservoir to the higher reservoir. And during peak demand, the stored water will power turbines, thereby generating electricity.
The initiative is expected to significantly enhance energy security by providing peaking and continuous power supply along with other renewables such as solar and wind. With the setting up of 2800 MW pumped hydro capacity, these projects will help stabilize the power grid and support the wider integration of renewable energy systems, along with solar and wind farms already in operation.
“The signing of this MoU is a major step forward in 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 renewable solar and wind projects to ensure a 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,” said Dr Praveer Sinha, CEO & MD of Tata Power, in an official release.
This MoU ensures grid stability, seamless integration of renewable sources, and a lasting impact on the energy landscape. The projects’ scalability and efficiency reinforce Tata Power’s commitment to a greener tomorrow, transforming the energy landscape for future generations. It will also contribute to Maharashtra’s goal of having a USD-1 trillion economy by 2028.
