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Mumbai, July 20, 2026: Tata Power has received a Letter of Award (LoA) from the Solar Energy Corporation of India Limited (SECI) for the supply of 324 MW power from the 1000 MW Pumped Hydro Storage Project (PSP) at Bhivpuri in the Raigad district of Maharashtra.
The project has been secured under SECI's Tariff-based Global Competitive Bidding (PSP-I) for supply of 1,500 MW / 12,000 MWh of power from pumped hydro storage projects being set up in the country. The Project was won through an e-reverse auction. It has 40-year Pumped Storage Purchase Agreement (PPA) and is scheduled for commissioning by 2029.
The project will be developed under the Build, Own, Operate (BOO) model and will provide 8 hours of energy storage, enabling reliable dispatch of electricity during periods of peak demand. It will be connected to the 765/400 kV South Kalamb CTU Substation, an Inter-State Transmission System (ISTS).
The SECI's award had further strengthened Tata Power’s position in long-duration energy storage, a segment central to integrating India’s fast-growing solar and wind capacity into the grid by converting surplus daytime generation into firm, dispatchable, round-the-clock power. The awarded capacity sits at the 1000 MW Bhivpuri PSP project, one of two large pumped storage developments the Company is progressing in the Western Ghats alongside the 1,800 MW Shirwata PSP, with a combined pipeline of 2,800 MW. The award aligns with Tata Power’s broader clean-energy strategy and its Net Zero 2045 ambition.
The Company’s clean and green portfolio now stands at 17.5 GW, including a 9.6 GW pipeline, of which 2.8 GW is pumped storage. As India’s peak demand climbs and the share of variable renewables rises, long-duration storage is becoming the backbone of grid flexibility and credible round-the-clock green power, an area where Tata Power’s long-standing presence and favourable hydro-geography in the Western Ghats give it a distinct advantage.
About Tata Power
The Tata Power Company Limited, a vertically integrated power company and part of the Tata Group, India’s largest multinational business conglomerate, has built a diversified portfolio across the entire power value chain, with its total operational and pipeline capacity surpassing 26 GW. This includes approximately 17.5 GW of clean and green energy capacity (including projects under construction) and around 8.9 GW of thermal generation capacity, ensuring a balanced and resilient energy mix. The Company also has a strong transmission and distribution footprint, with over 7,400 circuit kilometres of transmission lines, including pipeline projects, and serves nearly 13 million customers across its distribution businesses, making it one of India’s largest private power distribution companies.
Further strengthening its leadership in future-ready energy solutions, Tata Power has established 4.9 GW of integrated solar cell and module manufacturing capacity, signed 2.8 GW of pumped hydro storage projects, and expanded its EV charging network to over 7.000 public charging points across 706 cities and towns in India.
As a pioneer in India’s clean energy transition, Tata Power remains committed to achieving Net Zero by 2045 and continues to partner with public and private stakeholders to deliver reliable, sustainable, and technology-led energy solutions across the country.
Disclaimer:
The following press release/announcement may contain forward-looking statements within the meaning of applicable securities laws and regulations. These statements are based on management's current views, expectations, assumptions, and projections regarding the Company's future performance, business plans, growth prospects, competitive and regulatory environment, and other related matters. Such forward-looking statements are subject to various risks and uncertainties, which may cause actual results to differ materially from those expressed or implied in the statements. Factors that could cause actual results to differ materially from those contemplated in the forward-looking statements are not limited to changes in economic conditions affecting demand/supply and price conditions in the domestic and overseas markets in which the Company operates, alterations in the business environment, fluctuations in Government regulations, laws, statutes, judicial pronouncements, and other incidental factors. The Company does not undertake any obligation to publicly update or revise any forward-looking statements based on subsequent events, information, or developments, except as required by applicable laws and regulations.
