Tata Power Company is looking to set up 2,800 MW of pumped hydro storage capacity at an investment of around ₹15,000 crore, CEO Praveer Sinha told reporters.
He said the company would tie up with its green power subsidiary, Tata Power Renewable Energy Ltd, which would in turn, bundle the projects with other energy sources to supply power to clients. "This will provide round-the-clock power to utilities and group captive consumers of commercial and industrial segments," Sinha said.
Tata Power is likely to leverage some of its own reservoirs in the projects, which will likely be ready by March 2029.
Pumped hydro storage operates like a large battery, by using two reservoirs at different heights. Surplus power from renewable projects is utilized to pump water up from the lower reservoir to the higher reservoir, and when power demand spikes, the water from the upper reservoir is cascaded down to generate power.
India's Central Electricity Authority estimates the country has on-river pumped storage potential of 103 GW.
Last year, Tata Power signed an MoU with the Government of Maharashtra to set up an 1,800 MW PSP project at Shirawata in Pune district and a 1,000 MW PSP at Bhivpuri in Raigad district. The projects, aimed at supporting the state's goal of becoming a $1 Trillion economy by 2028 are forecast to generate employment for over 6,000 people.
The company has identified three new PSP projects of 9,000 MW capacity, all in Raigad district of Maharashtra. Each projects has 3,000 MW capacity. These are at Potalpali in Thokarwadi, Kataldhara at Walwhan, and Nenavali in Mulshi.