“Tata Power and Maharashtra Government Partner to Boost Hydro Power Capacity with Rs 13,000 Crore Investment”
Tata Power signs MoU with the Government of Maharashtra to develop two Pumper Hydro Storage Projects (PSP) worth Rs 13,000 crore, enhancing the state’s hydro power capacity by 2,800 MW and advancing its renewable energy goals.
In a significant move towards bolstering Maharashtra’s renewable energy landscape, Tata Power has inked a Memorandum of Understanding (MoU) with the Government of Maharashtra for the development of two Pumper Hydro Storage Projects (PSP) worth Rs 13,000 crore. This transformative initiative not only amplifies the state’s hydro power capacity but also aligns with its aspiration to achieve a $1 trillion economy by 2028.
The collaborative effort between Tata Power and the government encompasses the creation of two hydro projects with a combined capacity of 2,800 megawatts. These plants are strategically planned for Shirvata, Pune (1800 MW), and Bhivpuri, Raigad (1000 MW). The projects are expected to generate substantial employment opportunities, benefiting over 6,000 individuals.
The signing ceremony held at Mumbai’s Mantralaya was attended by Deputy Chief Minister of Maharashtra, Devendra Fadnavis, and Tata Power’s CEO, Praveer Sinha. Sinha hailed the MoU as a pivotal stride towards a cleaner and greener energy future, emphasizing that Pumped Hydro Storage projects provide a reliable and efficient means of storing energy.
Tata Power’s PSP initiatives are poised to revolutionize Maharashtra’s energy landscape by harnessing the kinetic energy of water to ensure stable and consistent power supply. These projects hold the promise of enhancing energy security, complementing existing renewables like solar and wind. With the proposed 2,800 MW pumped hydro capacity, the state can make substantial strides towards cleaner and more sustainable energy additions.
Leveraging the Western Ghats’ natural topography and favorable geology, these pumped storage hydro projects exemplify Tata Power’s century-long legacy in the region. The company currently operates three hydro power projects – Khopoli Hydro Generating Station, Bhivpuri Hydro Generating Station, and Bhira Hydro Generating Station, which includes a 150 MW Pumped Storage Hydro project.
The clean and sustainable power generated by these projects has not only contributed significantly to Mumbai’s economic and commercial growth but has also played an instrumental role in the overall development of the Raigad and Thane districts.
As the collaboration between Tata Power and Maharashtra’s government gains momentum, this initiative sets the stage for substantial progress in clean energy capacity, propelling the state closer to its ambitious renewable energy targets.
Sources By Agencies
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