Tata Power’s Rs 15,000 Crore Investment in 2,800 MW Hydro Storage by 2028-29 – EQ
In Short : Tata Power’s significant investment of Rs 15,000 crore is earmarked for the development of a 2,800 MW hydro storage project by the fiscal year 2028-29. This underscores the company’s commitment to investing in large-scale hydroelectric storage infrastructure, contributing to India’s renewable energy goals and enhancing grid stability through energy storage solutions.
In Detail : Tata Power Company Ltd is set to embark on a significant venture, aiming to establish pumped hydro storage projects with a cumulative capacity of 2,800 MW by the financial year 2028-29. The ambitious initiative, requiring an investment of Rs 15,000 crore, is part of Tata Power’s strategy to enhance its renewable energy portfolio.
CEO Praveer Sinha disclosed that the company intends to collaborate closely with its subsidiary, Tata Power Renewable Energy Ltd, to integrate pumped hydro energy seamlessly with solar and wind sources. The bundled approach aims to deliver uninterrupted power supply to utilities, commercial entities, and industrial sectors, effectively contributing to meeting their renewable energy obligations.
Recognizing the growing importance of pumped hydro storage in addressing the intermittency challenges associated with renewable energy projects, Tata Power’s initiative aligns with broader trends in India’s electricity system. Deloitte and the Federation of Indian Chambers of Commerce and Industry have highlighted the increasing prominence of both pumped hydro storage and battery energy storage solutions.
Pumped hydro storage operates as a two-reservoir system at different elevations, effectively functioning as a colossal battery. When surplus power is available from renewable projects, it is utilized to pump water to the higher reservoir. India boasts a substantial potential for pumped hydro storage, with an estimated 97 GW, including 40 GW in the western part of the country.
The Central Electricity Authority’s estimates indicate a significant on-river pumped storage potential of 103 GW in India. Tata Power, leveraging its own reservoirs, aims to contribute to the realization of this potential, reinforcing its commitment to sustainable and reliable energy solutions.
