Tata Power’s board approves Rs 56.66 bn to set up 1,000 MW PSP

Tata Power‘s board has approved an investment of Rs 56.66 billion to develop a 1,000 MW pumped storage hydro project in Bhivpuri, Maharashtra. 

The project is slated for completion over 44 months, with financing structured as 75% debt and 25% equity. 

This initiative will enhance Tata Power’s existing capacity of 15.2 GW. Pumped storage hydro projects play a crucial role in providing round-the-clock renewable energy solutions, aiding in the decarbonisation of industries that are challenging to abate.