Tata Power Company Ltd will invest Rs 110 billion in a pumped hydro storage project at Shirawta in Pune, Maharashtra, as part of its broader push to strengthen renewable energy infrastructure. The project work is scheduled to begin in July 2026 and is expected to be completed over five years, the company said.

The project will be financed through a 70:30 debt-equity structure and is one of two pumped storage plants agreed upon with the Maharashtra government, with a combined capacity of 2,800 MW. The Shirawta facility will have an installed capacity of 1,800 MW, while the second plant at Bhivpuri in Raigad will generate 1,000 MW.

According to company officials, the Bhivpuri project is already in discussions to secure commercial and industrial customers within the next six months.

Both projects are being developed through Tata Power Renewable Energy Ltd (TPREL), a subsidiary of Tata Power, as part of the company’s commitment to building grid-level energy storage capacity and supporting Maharashtra’s renewable energy goals.

By expanding its pumped hydro storage portfolio, Tata Power aims to enhance grid reliability, balance intermittent renewable generation, and support large-scale integration of solar and wind energy into the state’s electricity mix.

These projects represent a significant step in Tata Power’s long-term strategy to transition towards a cleaner and more sustainable energy ecosystem while contributing to India’s broader energy security and decarbonisation objectives.