Tata Power, which recently signed an agreement with the Maharashtra government for development of two pumped hydro storage projects with combined capacity of 2,800 MW in the state, is targeting to start work on both the plants by mid of 2024.
In August this year, a Memorandum of Understanding (MoU) was signed for the development of a 1,800 MW of pumped hydro storage plant (PSP) at Shirawata in Pune district and a 1,000 MW PSP at Bhivpuri in Raigad district. The proposed capital investment for the projects is Rs 13,000 crore. The company has planned a capex of around Rs 60,000 crore till FY2027. Pumped hydro project is a reliable and efficient way to store energy.
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