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Last week, Tata Power, in an analyst meeting at its Bhivpuri Hydro capacity in Maharashtra, gave an aggressive target to double its revenue and profit by FY27 at a capital expenditure of ₹60,000 crore over the next four years. The company expects to commission two projects of 2,800 megawatts (MW) by 2027 and 2028 and has identified three new potential sites with 9,000 MW capacity. The power major will invest about ₹13,000 crore for these two projects — a 1,800 MW PSP at Shirawata, Pune district and a 1000 MW PSP at Bhivpuri in Raigad district, both in Maharashtra — which will likely start construction by next year as various clearances are going on.
Earlier in August this year, Tata Power signed a memorandum of understanding (MoU) with the Maharashtra government to develop 2,800 MW of pumped hydro storage projects in the state, with a proposed total investment of approximately ₹13,000 crore. The Shirawata and Bhivpuri projects are likely to support the Maharashtra government’s goal to achieve a $1 trillion economy by 2028, and will also generate employment for over 6,000 people. The pumped hydro project will support existing solar and wind plants to provide 24/7 power supply thereby promoting a greener energy landscape.
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