Tata Power approves US$ 1.25 billion investment in 1,800 MW pumped storage project in Maharashtra
- IBEF
- November 13, 2026
Tata Power's board of directors has approved an investment of Rs. 11,871 crore (US$ 1.25 billion) to develop a 1,800 megawatt (MW) pumped storage project at Shirwata in Maharashtra. The project is expected to be completed within 51 months and will be financed through a combination of debt and equity, accounting for 75% and 25% of the total funding, respectively. The project is expected to support renewable energy round-the-clock (RE-RTC) applications by facilitating energy storage and shifting, while contributing to the decarbonisation of hard-to-abate industries. Tata Power's existing overall generation capacity stands at 16.9 gigawatts (GW).
The investment announcement coincided with the company's financial results for the second quarter of FY27. Tata Power reported a 48.58% year-on-year increase in net profit to Rs. 1,366.11 crore (US$ 143.72 million) in Q2FY27, compared with Rs. 919.44 crore (US$ 104.04 million) in Q2FY26. Revenue increased by 26.32% to Rs. 19,635.94 crore (US$ 2.07 billion), from Rs. 15,544.91 crore (US$ 1.76 billion) in the corresponding quarter of the previous year. The company also reported a 16.17% sequential increase in net profit and a 3% rise in revenue. The pumped storage investment forms part of Tata Power's broader capital deployment towards renewable energy capacity addition, transmission expansion, energy storage and digital distribution infrastructure.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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