Tata Power board approves Rs 11,871 crore Shirwata pumped storage project
Tata Power told the National Stock Exchange that its board approved an investment of Rs 11,871 crore in a 1,800 MW pumped storage project at Shirwata, Maharashtra, to be added within 51 months.
Key points
- Tata Power's board approved an investment in a 1,800 MW pumped storage project at Shirwata, Maharashtra, on 11 November 2026, the company disclosed.
- The filing puts the investment at Rs 11,871 crore, to be financed 75% by debt and 25% by equity, with the capacity to be added within 51 months.
- The company says its existing capacity is 16.9 GW and that the project will be instrumental in round-the-clock renewable energy applications.
Tata Power's board of directors approved an investment of Rs 11,871 crore in a 1,800 MW pumped storage project at Shirwata, Maharashtra, at its meeting on 11 November 2026, the company said in a filing with the National Stock Exchange. The capacity is to be added within 51 months.
What Happened
In a disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Tata Power set out the details required under a SEBI master circular dated 30 January 2026.
According to the filing, the proposed capacity addition is a 1,800 MW pumped storage project (PSP) at Shirwata. The investment required is Rs 11,871 crore, and the mode of financing is 75% debt and 25% equity. The period within which the capacity is to be added is 51 months.
The company stated that its overall existing capacity stands at 16.9 GW and that the utilisation of its existing capacity is at an "optimum level". As its rationale, the filing says the project will be instrumental in round-the-clock renewable energy applications, in facilitating energy shifting, and in contributing to the decarbonisation of hard-to-abate industries.
The same board meeting approved the company's results for the quarter and half year ended 30 September 2026. In its limited review report on the consolidated results, the auditor drew attention to a note on an unfavourable arbitration award seeking payment of USD 490.32 million and related costs and interest from the company. The report says the Singapore International Commercial Court dismissed the company's appeal to set aside the award during the quarter, and that on 6 November 2026 notices were served intimating attachment of the company's shareholding in certain Singapore subsidiaries. The company has filed notices of appeal before the Singapore Court of Appeal, and no adjustments have been made in the consolidated results pending the final outcome, the report says. The auditor states that its opinion is not modified in respect of this matter.
What It Means
For shareholders, the filing sets out a commitment of Rs 11,871 crore, 75% of it to be financed by debt, with the capacity to be added within 51 months. The disclosure gives no year-by-year spending plan or expected returns.
Sources & Citations
- NSE filing: Shirwata capacity addition — National Stock Exchange of India
- NSE filing: outcome of board meeting — National Stock Exchange of India