Tata Power Secures ₹351.3 Cr Annual SECI Order for 324 MW Pumped Storage
Tata Power has received a Letter of Award from SECI to supply energy storage from a 324 MW / 2,592 MWh Pumped Storage Plant for 40 years, generating ₹351.3 crore in annual fixed charges at ₹1.0841826 crore per MW per year. The company must commence storage capacity supply within 36 months of the PPA effective date, with SECI set to sign a Pumped Storage Purchase Agreement following execution of a Pumped Storage Sale Agreement with buying entities.
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Tata Power has secured a significant order from Solar Energy Corporation of India Limited (SECI) to provide pumped storage services, generating an annual revenue of ₹351.3 crore. The Letter of Award (LOA) mandates the company to supply energy storage from a 324 MW / 2,592 MWh Pumped Storage Plant (PSP) for a duration of 40 years. This long-term agreement is expected to strengthen the company's position in the renewable energy storage sector.
The order involves a fixed annual charge of ₹1.0841826 crore per MW per year, along with an annual cycle loss of 24.61%. Consequently, the total annual fixed charge for the 324 MW capacity amounts to ₹351.3 crore. SECI, a Government of India Enterprise, will sign a Pumped Storage Purchase Agreement (PPA) with Tata Power subsequent to the execution of a Pumped Storage Sale Agreement with buying entities.
Project Execution and Terms
The company is required to commence the supply of storage capacity within 36 months from the effective date of the PPA. The project is entirely domestic, with no interests held by the promoter, promoter group, or group companies in the entity awarding the order. The transaction does not fall under related party transactions.
Key Order Details
| Particulars: | Description |
|---|---|
| Entity Awarding Order | Solar Energy Corporation of India (SECI) Limited |
| Nature of Order | Providing pumped storage service from PSP of 324 MW / 2,592 MWh capacity |
| Contract Duration | 40 Years from Scheduled Commencement of Supply Date |
| Total Annual Fixed Charge | ₹351.3 crore |
| Execution Timeline | Supply of storage capacity within 36 months of effective date of PPA |
The disclosure was made to the exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Vispi S. Patel, Company Secretary and Compliance Officer, signed the filing on July 18, 2026.
Historical Stock Returns for Tata Power
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.25% | -2.22% | -2.60% | -0.98% | -4.16% | +196.59% |
How will Tata Power finance the capital expenditure required to complete the 324 MW Pumped Storage Plant within the 36-month timeline?
What impact will this 40-year agreement have on Tata Power's long-term debt profile and credit ratings?
Could this deal serve as a benchmark for future tariffs in India's pumped storage sector?
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