Tata Power is expanding its commitment to India’s clean energy infrastructure with an approved investment of approximately $1.25 billion in a 1,800-megawatt (MW) pumped storage project at Shirwata in Maharashtra. The company’s board of directors has cleared an investment of Rs. 11,871 crore for the development, which is expected to be completed within 51 months. Funding will follow a debt-equity structure, with 75% of the project cost financed through debt and the remaining 25% through equity.
The proposed facility is expected to strengthen renewable energy integration by enabling electricity storage and allowing power to be dispatched when demand increases. It will also support round-the-clock renewable energy applications, helping address the intermittent nature of solar and wind power. Additionally, the project is expected to contribute to reducing carbon emissions in industries where transitioning away from conventional energy sources remains challenging. Tata Power currently has an overall power generation capacity of 16.9 gigawatts (GW).
The investment announcement coincided with the company’s financial performance update for the second quarter of fiscal year 2027. Tata Power recorded a net profit of Rs. 1,366.11 crore, equivalent to approximately $143.72 million, marking a 48.58% increase compared with the corresponding quarter of the previous financial year. Its revenue also climbed 26.32% to Rs. 19,635.94 crore, or approximately $2.07 billion.
On a sequential basis, net profit grew 16.17%, while revenue increased by 3%. The Shirwata development forms part of Tata Power’s wider investment strategy, which includes expanding renewable generation, strengthening transmission networks, developing energy storage solutions, and modernizing digital electricity distribution infrastructure.
