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Tata Power Company Ltd aims to establish pumped hydro storage projects with a capacity of 2,800 MW by 2028-29, involving an investment of ₹15,000 crore, revealed its CEO, Praveer Sinha.
In an interview, Sinha disclosed that the company intends to collaborate with its subsidiary, Tata Power Renewable Energy Ltd, to integrate these projects with other energy sources. This bundling strategy aims to provide uninterrupted power supply to utilities as well as to commercial and industrial consumers. "This approach will effectively address the round-the-clock power needs of utilities and group captive consumers in the commercial and industrial sectors, assisting them in fulfilling their renewable energy obligations," Sinha explained.
The bundled energy mix will encompass solar, wind, and pumped hydro resources, offering a diversified and reliable energy solution.
Pumped hydro storage has garnered attention in recent years due to the challenge posed by the intermittent nature of renewable energy projects on grid stability. According to a report by Deloitte and the Federation of Indian Chambers of Commerce and Industry, both pumped hydro storage and battery energy storage solutions are expected to play crucial roles in India's evolving electricity system. The interim budget for 2023-24 introduced a framework for pumped storage power projects.
Pumped hydro storage functions as a two-reservoir system at varying elevations, effectively functioning as a large-scale battery. Excess power from renewable projects is utilised to pump water to the higher reservoir, storing energy for later use. Industry experts estimate a significant pumped hydro storage potential of 97 GW in India, with 40 GW located in the western region.
The Central Electricity Authority projects an on-river pumped storage potential of 103 GW in India, with ongoing assessments for off-river pumped storage potential. Sinha emphasised the advantage of utilising their reservoirs for these projects, eliminating the need to seek external sources.
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