Tata Power Approves Rs 5,666 Cr for 1,000 MW Pumped Storage Project
By Rediff Money Desk, New Delhi Oct 30, 2024 19:56
Tata Power board approves Rs 5,666 crore investment for a 1,000 MW pumped storage hydro project in Bhivpuri, aiming for RE-RTC applications and decarbonisation.
New Delhi, Oct 30 (PTI) Tata Power on Wednesday said its board has approved Rs 5,666 crore investment for setting upa 1,000 MW pumped storage hydro project.
The company aims to set up the project in Bhivpuri over a period of 44 months, Tata Power said in an exchange filing.
On the mode of financing, the company said the 75 per cent will be debt and 25 per cent will be met through equity financing.
The company's overall existing capacity stands at 15.2 GW.
"Pumped Storage Hydro Project (PSP) will be instrumental in Renewable Energy Round the Clock (RE-RTC) applications, facilitating energy shifting, and contributing to the decarbonise hard to abate industries," it said.
The company aims to set up the project in Bhivpuri over a period of 44 months, Tata Power said in an exchange filing.
On the mode of financing, the company said the 75 per cent will be debt and 25 per cent will be met through equity financing.
The company's overall existing capacity stands at 15.2 GW.
"Pumped Storage Hydro Project (PSP) will be instrumental in Renewable Energy Round the Clock (RE-RTC) applications, facilitating energy shifting, and contributing to the decarbonise hard to abate industries," it said.
Source: PTI
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 6.67 ( -3.61)
- 72559040
- Srestha Finvest
- 0.63 (+ 1.61)
- 31651775
- Suzlon Energy Ltd.
- 65.15 ( -0.47)
- 15879230
- AvanceTechnologies
- 0.93 ( -2.11)
- 12473834
- Thinkink Picturez
- 2.44 ( -20.00)
- 12405311
MORE NEWS
Gold Prices Surge to Rs 80,000 Amid...
Gold prices have rebounded to Rs 80,000 per 10 grams in India, driven by rising...
Binod Kumar Recommended for Indian Bank MD & CEO
FSIB recommends Binod Kumar as the Managing Director & CEO of Indian Bank, replacing S...
Bihar Biz Summit: Investments to Surpass Rs 50K Cr
Bihar's upcoming business summit is expected to attract investment proposals exceeding...