Tata Power has joined hands with the Government of Maharashtra and signed a Memorandum of Understanding (MoU) to develop two substantial Pumped Hydro Storage projects (PSP) with a combined capacity of 2800 Megawatts (MW) within the state.
These initiatives, anticipated to require an investment of roughly Rs. 13000 Crore, will be located in Pune’s Shirawta (1800 MW) and Raigad’s Bhivpuri (1000 MW) districts. This partnership sets the trajectory for the state’s pursuit of achieving its ambitious $1 Trillion economy target by 2028, simultaneously propelling the creation of over 6,000 job opportunities.
The pumped hydro venture will strengthen the operations of current solar and wind facilities, ensuring an uninterrupted 24/7 power supply and fostering an enhanced environmentally friendly energy environment. The scalability and efficiency of these projects underscore Tata Power’s dedication to a more environmentally conscious future, reshaping the energy panorama for generations to come.
The MoU was signed at Mantralya in Mumbai and graced by esteemed dignitaries, including the Hon’ble Deputy Chief Minister of Maharashtra, Shri Devendra Fadnavis; Ms. Abha Shukla – Principal Secretary, Energy Department; Dr. Praveer Sinha – CEO & MD of Tata Power; Mr. Vijay Namjoshi – Chief-Generation, Tata Power; Mr. Prabhakar Kale – Chief-Hydros, Tata Power, along with other distinguished guests.
“The signing of this MoU is a major step forward in the 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.” said Dr Praveer Sinha, CEO & MD, Tata Power.
These endeavors will add to Maharashtra’s and India’s energy framework, harnessing the potential of water’s kinetic energy for a consistent and dependable power source. It will also elevate energy security, furnishing both peak and uninterrupted power provisions alongside complementary renewables like solar and wind. With the establishment of a pumped hydro capacity of 2800 MW, these ventures will play a substantial role in augmenting the country’s cleaner energy capacity.
The Western Ghats, with its natural topography and favorable geology, holds significant potential for Pumped Storage Hydro Projects. Tata Power’s century-long legacy in this region encompasses the operation of three hydropower projects: Khopoli Hydro Generating Station, Bhivpuri Hydro Generating Station, and Bhira Hydro Generating Station, which encompasses a 150 MW Pumped Storage Hydro project. The eco-friendly and sustainable power harnessed from these initiatives has played a pivotal role in the economic and commercial advancement of Mumbai and its vicinity.