Tata Power would spend Rs 13,000 crore on two pumped hydro storage projects in Maharashtra.

On Tuesday, Tata Power announced an investment of Rs 13,000 crore for the construction of two pumped hydro storage projects (PSPs) in Maharashtra. The business stated that the two projects will have a combined capacity of 2,800 MW without providing a timetable for the expenditure.

A corporate statement defining a PSP stated that during periods of energy excess, water will be pumped from a lower reservoir to a higher reservoir, and the same water will be used to power turbines situated lower down to create electricity during peak demand.

Six thousand people would be employed by the two PSPs, which will be built in Shirawta, Pune (1,800 MW), and Bhivpuri, Raigad (1,000 MW). With locations in Khopoli, Bhira, and Bhivpuri, the firm has been managing hydroelectric projects in the state for more than a century. There is a 150 MW PSP capacity at Bhira.

On Tuesday, the corporation and the Maharashtra government inked a memorandum of understanding (MoU) in the presence of the state’s deputy chief minister Devendra Fadnavis.

According to Praveer Sinha, the company’s managing director, and chief executive, PSP is a dependable and effective way to store energy, and the deal represents a significant step forward in the company’s journey toward a clean and green energy future.

Tata Power claims that the ecologically fragile Western Ghats have enormous potential for PSPs because to their natural topography and favorable geology.

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