Tata Power and the Maharashtra government reached an agreement on August 8 to create two sizable pumped hydro storage projects (PSP) in the state, with a combined capacity of 2,800 Megawatts (MW).

According to a press release, these projects would be located in the Shirawta, Pune (1,800 MW) and Bhivpuri, Raigad (1000 MW) districts and are expected to cost around Rs 13,000 crore.

The partnership could help the state achieve its objective of having a $1 trillion economy by 2028 while creating jobs for more than 6,000 people, according to the announcement.

The signing ceremony was held at Mantralya, Mumbai in presence of Deputy Chief Minister Devendra Fadnavis, Principal Energy Secretary Abha Shukla, Tata Power CEO and MD Dr Praveer Sinha, Tata Power Generation chief Vijay Namjoshi, Hydro Power chief Prabhakar Kale, and some other guests.