Tata Power Bags 324 MW Pumped Storage Contract from SECI

Tata Power Company Ltd has received a Letter of Award (LOA) from Solar Energy Corporation of India Limited (SECI) for providing pumped storage services. The contract is for a 324 MW / 2,592 MWh Pumped Storage Plant (PSP) and will span 40 years from the Scheduled Commencement of Supply Date. The agreed terms include a fixed annual charge and cycle loss. SECI will sign a Pumped Storage Purchase Agreement (PPA) with Tata Power after finalizing a Pumped Storage Sale Agreement with buying entities. The company is expected to commence supply of storage capacity within 36 months of the PPA's effective date. The total annual fixed charge for the 324 MW capacity is ₹351.3 crore.