SECI Awards Tata Power 324 MW Power Supply Project in Maharashtra

Tata Power said on July 20 that Solar Energy Corporation of India Ltd. (SECI) had sent a Letter of Award (LoA) to the company. The LoA states that Tata Power's 1,000 MW Pumped Hydro Storage Project (PSP) in Bhivpuri, Maharashtra, will supply 324 MW of power.

According to a statement from the company, the project was chosen through SECI's tariff-based global competitive bidding process for the delivery of 1,500 MW / 12,000 MWh of power from pumped hydro storage facilities within the country. An online reverse auction was used to obtain the project. Scheduled for commissioning by 2029, it has a Pumped Storage Purchase (PSP) deal in place for 40 years.

Specifics of Tata Power’s Deal

The BOO model will be utilised for the project's development. Furthermore, it will store energy for 8 hours, allowing for a consistent supply of power even during times of high demand. Through the Inter-State Transmission System (ISTS), it will be linked to the 765/400 kV South Kalamb Central Transmission Utility (CTU) Substation. Tata Power's leadership in long-duration energy storage has been further solidified by the SECI's award.

This segment is crucial for connecting India's rapidly expanding solar and wind capacity to the grid, as it allows for the conversion of excess daytime supply into reliable, dispatchable power that is available at all times. The honour is in line with Tata Power's goal of achieving Net Zero by the year 2045 and its larger plan for clean energy. With the addition of a 9.6 GW pipeline—2.8 GW of which is pumped storage—the company's clean and green portfolio now exceeds 17.5 GW.

As a member of the Tata Group and a vertically integrated power firm, Tata Power Ltd has amassed a diverse portfolio spanning the whole power value chain and has operational and pipeline capacity over 26 GW. A balanced and robust energy mix is ensured by including around 8.9 GW of thermal generation capacity and about 17.5 GW of clean and green energy capacity (including projects under construction).

Tata Agratas Strengthens EV Push

A seven-year supply agreement worth $530 million (approximately INR 5,000 crore) has been inked between group company Jaguar Land Rover and Tata group electric-vehicle battery arm Agratas. Company disclosures and an executive with knowledge of the agreement indicate that it will commence this fiscal year.

According to a resolution seeking shareholder approval for the related-party transaction and the executive, Agratas' first supply agreement is expected to generate approximately $42 million (INR 400 crore) in revenue in FY27. The agreement will initially cover the supply of NMC (nickel manganese cobalt) battery cells.

According to the resolution, the proposed multi-year agreement brings long-term benefit to shareholders by ensuring supply, keeping costs low, leading in technology, and aligning on sustainability. As mentioned in the agreement, these transactions allow for the uninterrupted and smooth running of business operations by ensuring a consistent supply of batteries of the required quality and quantity. Consequently, this will lead to improved productivity, simplified operations, and reduced costs.