Tata Power’s Board of Directors has approved an investment in an 1,800 MW Pumped Storage Project located at Shirwata, Maharashtra. This strategic expansion is set to enhance the company’s renewable energy capacity, supporting its commitment to Round the Clock Renewable Energy applications and facilitating energy shifting. The project signifies a substantial step towards decarbonizing hard-to-abate industries and bolstering India’s energy transition goals.
Tata Power Approves Major Hydropower Investment
The Board of Directors at Tata Power Company Limited has given its approval for a significant investment in a new 1,800 MW Pumped Storage Project (PSP). This ambitious project will be situated in Shirwata, Maharashtra, marking a substantial expansion of the company’s renewable energy infrastructure. The approval signifies a key strategic move to bolster its capacity and market leadership in the energy sector.
Project Details and Financing
The proposed capacity addition of 1,800 MW PSP at Shirwata is expected to be completed within 51 months. The total investment required for this project amounts to ₹11,871 crore. The financing structure for this venture is planned to be a mix of 75% debt and 25% equity, reflecting a balanced approach to capital funding. This investment aligns with Tata Power’s ongoing efforts to strengthen its overall existing capacity, which currently stands at 16.9 GW.
Strategic Rationale and Impact
The rationale behind developing this Pumped Storage Hydro Project is multifaceted. It is deemed instrumental in supporting Renewable Energy Round the Clock (RE-RTC) applications, enabling essential energy shifting capabilities. Furthermore, the project is poised to contribute significantly to the decarbonization efforts targeting hard-to-abate industries. This initiative underscores Tata Power’s commitment to sustainable energy solutions and its role in advancing India’s energy transition objectives.
Source: BSE
