Tata Power to invest Rs 11,000 crore in Pune pumped hydro project
Tata Power is setting the wheels in motion for a significant pumped hydro storage venture in Shirawta, Pune, with a staggering investment of 11,000 crore rupees. Construction kicks off in July, anticipated to span five years. The financial bluepri...
By Kalpana Pathak, ET Bureau |
MUMBAI: Tata Power Company Ltd (TPCL) will invest ₹11,000 crore in setting up a pumped hydro storage (PSP) project in Shirawta in Pune, Maharashtra, CEO and MD, Praveer Sinha told ET on Tuesday.
"We will start the work on Shirawta project next July. It will take five years to complete. We will be investing Rs 11000 crore in the project and financing it through a combination of 70:30 debt-equity ratio," said Sinha on the sidelines of the Distribution Utility Meet being held in Mumbai.
Last year Tata Power Ltd. and the Government of Maharashtra signed a Memorandum of Understanding (MoU) to develop two large Pumped Hydro Storage projects (PSP) with a combined capacity of 2,800 Megawatts (MW) in the state.
"We will start the work on Shirawta project next July. It will take five years to complete. We will be investing Rs 11000 crore in the project and financing it through a combination of 70:30 debt-equity ratio," said Sinha on the sidelines of the Distribution Utility Meet being held in Mumbai.
Last year Tata Power Ltd. and the Government of Maharashtra signed a Memorandum of Understanding (MoU) to develop two large Pumped Hydro Storage projects (PSP) with a combined capacity of 2,800 Megawatts (MW) in the state.
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