Tata makes power move in Maharashtra, worth crores

Listen to this article in summarized format Listen Loading... × × Subscribe to Unlock AI Briefing and Premium Content New Year Offer 24 Hours Left Subscribe Now Already a member? Sign In What's Included Exclusive Stories Daily ePaper Access Smart Market Tools Curated Investment Ideas Ad-lite Experience Subscription ANI Tata Power has approved an investment of ₹11,871 cr for its 1,800 MW pumped storage project at Shirwata in Maharashtra , as the power utility steps up investments in large-scale energy storage to support the integration of renewable power, the company informed the exchanges. Tata Power is also advancing its pumped storage hydro portfolio, with construction at its Bhivpuri PSP progressing on schedule and the board having secured approval for the capital commitment for the Shirwata project. The move reinforces the company's commitment to building long-duration energy storage capacity to support India's evolving power requirements. The Shirwata Pumped Storage Hydro Project (PSP) will support renewable energy round-the-clock (RE-RTC) applications by enabling energy shifting and helping decarbonise hard-to-abate industries, the company said. The investment comes as Tata Power expands its clean-energy and storage portfolio amid rising demand for round-the-clock renewable power from commercial and industrial customers. The company's overall existing capacity stands at 16.9 GW. Live Events Also Read | Tata Power Q2 Results: PAT jumps 33% YoY to Rs 1,652 crore, revenue rises 26% Tata Power Q2 FY27 earnings The investment announcement comes alongside strong financial performance in the second quarter of FY27. Tata Power reported an all-time high consolidated PAT of ₹1,652 crore in Q2 FY27, marking a 33% year-on-year increase, driven by strong performance across its business clusters. For the first half of FY27, reported PAT stood at ₹3,053 crore, up 22% YoY. Revenue increased 26% YoY to ₹19,886 crore, while EBITDA rose 5% to ₹4,245 crore during the quarter. Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel ) Read More News on tata power Tata Power pumped storage project renewable energy Shirawata Maharashtra energy storage hydro project clean energy maharashtra (Catch all the Business News , Breaking News and Latest News Updates on The Economic Times .) Subscribe to The Economic Times Prime and read the ET ePaper online. ... more less (You can now subscribe to our Economic Times WhatsApp channel ) Read More News on tata power Tata Power pumped storage project renewable energy Shirawata Maharashtra energy storage hydro project clean energy maharashtra (Catch all the Business News , Breaking News and Latest News Updates on The Economic Times .) Subscribe to The Economic Times Prime and read the ET ePaper online. ... more less