Tata Power approves ₹11,871 crore investment in 1,800 MW pumped storage project
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Tata Power approved an investment of ₹11,871 crore in a 1,800 MW pumped storage project at Shirwata, Maharashtra.
- ✓According to an exchange filing dated November 11, the project will finish in 51 months.
- ✓The company said this hydro project would support renewable energy applications and help decarbonise many hard-to-abate industries.
Story at a Glance
- Category
- Indian Markets
- Reported By
- CNBC TV18
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Tata Power Company has approved an investment of ₹11,871 crore in a 1,800 MW Pumped Storage Project (PSP) at Shirwata in Maharashtra, according to an exchange filing dated November 11.
The company's board of directors approved the investment at its meeting held on Wednesday. The project is expected to be completed within 51 months.
According to the regulatory filing, debt will account for 75% of the total investment, while the remaining 25% will be funded through equity.
Tata Power said the pumped storage hydro project would support Renewable Energy Round the Clock (RE-RTC) applications, facilitate energy shifting and contribute to the decarbonisation of hard-to-abate industries.
Unlock the Full Story with ArthNow Premium
To continue reading this complete financial story and in-depth market context, upgrade to ArthNow Premium. Enjoy unlimited access across Web and Mobile.
CNBC TV18
Read the full, original unfiltered story directly on the publisher's portal.
This brief is for information only and is not investment advice. ArthNow is not a SEBI-registered investment adviser and does not publish buy or sell recommendations. Original reporting is credited to the publisher named above. Read our editorial policy or report an error.