Tata Power to invest Rs 11K crore in hydro power project; clean energy to be wheeled to Mumbai
Mumbai: Tata Power announced a significant investment of Rs 11,000 crore in a pumped hydro storage project located in Shirawta, Pune, Maharashtra. This ambitious project is part of a broader agreement with the Maharashtra govt, which also includes another project in Bhivpuri, Raigad. Together, these projects will have a combined capacity of 2,800 MW, with the Shirawta project contributing 1,800 MW and the Bhivpuri project adding 1,000 MW.
Sources said the project will provide clean energy to Mumbai by storing excess power and generating electricity during peak demand. The financing for the Shirawta project will be structured with a 70:30 debt-equity ratio, as stated by Praveer Sinha, CEO and MD of Tata Power, during the Distribution Utility Meet in Mumbai.
