MoU signed for 2.8 GW pumped hydro storage projects in India

Tata Power has signed a Memorandum of Understanding (MoU) with the government of Maharashtra to develop two large pumped hydro storage projects with a combined capacity of 2.8 GW in Maharashtra, India. The 1800 MW pumped hydro storage project will be located at Shirawata in Pune district, and the 1000 MW pumped hydro storage project will be situated at Bhivpuri in Raigad district. The total investment for these projects is estimated to be approximately INR130 billion (US$1.57 billion).

The collaboration between Tata Power and the government of Maharashtra will support the state's goal of achieving a US$1 trillion economy by 2028. These pumped hydro storage projects will leverage the kinetic energy of water to create a stable and reliable power supply, supporting existing solar and wind plants to provide 24/7 power supply and promoting a greener energy landscape.

During times of excess energy, water will be pumped from a lower reservoir to a higher reservoir, and during peak demand, the stored water will power turbines, thereby generating electricity. With the proposed capacity of 2.8 GW, these projects will significantly contribute to cleaner capacity addition in the country.