Tata Power Company Limited has received a Letter of Award (LoA) from the Solar Energy Corporation of India Limited (SECI) for a 324 MW / 2,592 MWh Pumped Storage Project (PSP). Tata Power will provide pumped storage services for a period of 40 years from the scheduled commencement of supply. SECI will execute a Pumped Storage Purchase Agreement (PPA) with Tata Power after signing a Pumped Storage Sale Agreement with the buying entities.
The project will provide energy storage services from the 324 MW / 2,592 MWh pumped storage facility. Tata Power must commence the supply of storage capacity within 36 months from the effective date of the PPA. Additionally, the project carries an annual fixed charge of an estimated 1.0841826 INR-Crore per MW per year. For the full 324 MW capacity, the total annual fixed charge works out to approximately 351.3 INR-Crore.
Also Read: Upcoming CMWSSB Water Sewerage Work (Package 1) Project, Chennai
The Tata Power pumped storage project will strengthen India’s energy storage infrastructure. Furthermore, the project will support grid flexibility by providing long-duration storage services. Once operational, the facility is expected to enhance power system reliability.
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