A stable and reliable power supply will be created with these projects, leveraging water’s kinetic energy
A Memorandum of Understanding (MoU) has been signed between Tata Power, one of India’s largest integrated power companies, and the government of Maharashtra for the development of two large pumped hydroelectric (PSP) storage projects with a combined capacity of 950 megawatts. The company made the announcement Tuesday through an exchange filing that it has installed 2,800 megawatts (MW) across the state.
Investment estimate
There will be 2,800 MW of power generated in Shirawta, Pune, and 1,000 MW of power generated in Bhivpuri, Raigad. This partnership is poised to propel the state toward its ambitious goal of becoming a $1 trillion economy by 2028. It will also create jobs for more than 6,000 people.
The MOU signing ceremony was held at Mantralya in Mumbai and was attended by senior officials including Maharashtra Deputy Minister, Devendra Fadnavis; Abha Shukla – Chief Secretary, Department of Energy; Dr. Praveer Sinha – CEO and CEO of Tata Power; Vijay Namjoshi – Generation Leader, Tata Power; Prabhakar Kale – Chief Hydros, Tata Power, along with other guests.
As Tata Power’s CEO and President, Praveer Sinha called this memorandum of understanding an important milestone in its journey towards a green, clean energy future. In addition to being reliable and efficient, pumped hydro storage stores energy efficiently. There will be a wide range of renewable energy projects supported by these projects to ensure a stable and reliable electricity supply. They are proud to be a part of this historic initiative and are proud to be associated with Maharashtra.
These projects aim to support Maharashtra’s energy landscape and the country, by harnessing water’s kinetic energy. This will create a stable and reliable electricity supply. During periods of excess energy, water will be pumped from the lower reservoir to the upper reservoir. During peak demand times, stored water powers turbines, generating electricity. This initiative will significantly improve energy security by providing peak and continuous energy as well as other renewables such as solar and wind power. With the establishment of a pumped hydropower capacity of 2800 MW, these projects will contribute to the country’s cleaner energy supply.
Here are some facts about Tata Power:
As one of India’s largest integrated power companies, Tata Power (NSE: TATA POWER; BSE:500400) is responsible for the installation and operation of 14,302 MW through its subsidiaries and co-controls. The company is active in the entire energy value chain – renewable and conventional energy production, including hydro and thermal power, transmission and distribution, and trading. The company has developed the country’s first Ultra Mega Power Project in Mundra (Gujarat) based on supercritical technology. With 5,442 MW of clean energy generation from solar, wind, hydropower, and waste heat recovery, accounting for 38% of the total portfolio, the company is a leader in clean energy production. It has successful public-private partnerships in production, transmission, and distribution in India, namely:
Powerlinks Transmission Co., Ltd. with Power Grid Corporation of India Ltd. to evacuate electricity from the Tala hydroelectric plant in Bhutan to Delhi, and Maithon Power Ltd. with Damodar Valley Corporation for a large 1,050 MW power project in Jharkhand.
Tata Power currently serves more than 12.9 million consumers through its Discoms under a public-private partnership model, namely Tata Power Delhi Distribution Ltd. with the Government of Delhi in North Delhi, North Odisha City Distribution Ltd., Central Odisha City Distribution Ltd., Western Odisha City Distribution Ltd., and South Odisha City Distribution Ltd. with the Government of Odisha. With a focus on clean and sustainable energy development, Tata Power is driving its transformation as an integrated solutions provider. It is examining the growth of upcoming businesses in the field of electrolytic generation. Canopy through solar roofs and microgrids, storage solutions, electric vehicle charging infrastructure, ESCO, home automation, and smart meters. With a 108-year track record of technological advancements, project execution excellence, world-class safety processes, customer service, and green initiatives, Tata Power is well-positioned for diversity and commitment to enlighten generations to come.
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