Tata Power signs MoU with the Government of Maharashtra for Development of 2800 MW of Pumped Hydro Storage Projects

Empowering Maharashtra’s Green Energy Transition: Government of Maharashtra and Tata Power collaborate for 2800 MW Pumped Hydro Storage Projects in the state. The MoU towards the same was signed today at Mantralya in the presence of Hon’ble Deputy Chief Minister of Maharashtra, Shri Devendra Fadnavis (center), Ms. Abha Shukla – Principal Secretary, Energy Department, Government of Maharashtra(left) and Dr. Praveer Sinha – CEO & MD of Tata Power (right).

• With a proposed total investment of approximately Rs. 13000 Cr, these projects will support Maharashtra’s and Country’s clean energy landscape
• 1800 MW Pumped Hydro Storage Project to be located at Shirawata, Pune district and 1000 MW PSP at Bhivpuri, Raigad district
• Projects will support to Maharashtra Government’s goal of achieving a $1 Trillion economy by 2028 ; will generate employment for over 6,000 people
• One of the company’s largest pumped hydro projects, aimed at stabilizing the grid with seamless integration with renewable energy sources
• The pumped hydro project will support existing solar and wind plants to provide 24/7 power supply thereby promoting greener energy landscape

Mumbai, 8^th August, 2023: 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 2800 Megawatts (MW) in the state. These projects, with an estimated investment of approximately Rs. 13000 Cr, will be situated at Shirawta, Pune (1800 MW) and Bhivpuri, Raigad (1000 MW) districts. The collaboration is poised to drive the state towards its ambitious goal of becoming a $1 Trillion economy by 2028 while concurrently generating employment for over 6,000 people.

The MoU signing ceremony was held at the 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 projects are set to support Maharashtra’s and Country’s energy landscape, leveraging the kinetic energy of water to create a stable and reliable power supply. During times of excess energy, water will be pumped from lower reservoir to higher reservoir, and during peak demand, the stored water will power turbines, thereby generating electricity. This initiative will 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 significantly contribute to cleaner capacity addition in the country.

The Western Ghats, with their natural topography and favourable geology, offer immense potential for Pumped Storage Hydro Projects. Tata Power’s legacy in this region spans a century, operating three hydro power projects – Khopoli Hydro Generating Station, Bhivpuri Hydro Generating Station, and Bhira Hydro Generating Station that includes 150 MW Pumped Storage Hydro project. The clean and sustainable power generated from these projects has played an important role in the economic and commercial development of Mumbai and its surroundings, while the water released from these plants has been instrumental in the overall economic growth of the Raigad and Thane districts.

Tata Power’s initiative of clean energy adoption is an effort to contribute to a greener future. 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.