Tata Power Charges Ahead with Rs 5,666 Crore Hydro Project

Tata Power has announced a substantial investment of Rs 5,666 crore to build a 1,000 MW pumped storage hydro project in Bhivpuri. The project will be completed in 44 months with 75% funded through debt and 25% equity. It aims to aid Renewable Energy Round the Clock applications.

Tata Power has unveiled plans to invest a significant Rs 5,666 crore in a new 1,000 MW pumped storage hydro project. This initiative, set to rise in Bhivpuri, was approved by the board on Wednesday, promising completion within 44 months.

The financing strategy for this ambitious project involves 75% funding through debt and the remaining 25% through equity. This financial mix underscores Tata Power's commitment to sustainable energy solutions.

The company's current capacity stands at 15.2 GW. The new project is poised to support Renewable Energy Round the Clock (RE-RTC) applications, facilitating energy shifting and aiding in the decarbonization of challenging industries.

(With inputs from agencies.)