Announced Sat, 18 Jul · 17:12 IST
Tata Power wins 324 MW pumped storage order from SECI worth about Rs 351 crore yearly
TATAPOWER · price
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AI summary
Tata Power received a Letter of Award from Solar Energy Corporation of India (SECI), a Government of India enterprise, to provide energy storage services from a 324 MW / 2,592 MWh pumped storage plant for 40 years. The company will earn a fixed annual charge of Rs 351.3 crore (Rs 1.08 crore per MW per year), subject to 24.61 percent annual cycle loss. Supply must begin within 36 months of the effective date of the PPA. This strengthens Tata Power long-term revenue visibility in the energy storage segment.
Likely market impact
Adds about Rs 351 crore in annual revenue for 40 years, boosting long-term revenue visibility in energy storage.