New Delhi: Tata Power has received a Letter of Award (LoA) from the Solar Energy Corporation of India (SECI) for the development of a 324 MW / 2,592 MWh Pumped Storage Plant (PSP).
Tata Power informed on Saturday that the project carries a total annual fixed charge of ₹351.3 crore, with an annual fixed charge of ₹1.0841826 crore per MW.
The service agreement for the project will remain valid for 40 years from the Scheduled Commencement of Supply Date. Under the terms of the award, Tata Power is required to commence power supply within 36 months from the effective date of the Power Purchase Agreement (PPA).
The project has an annual cycle loss of 24.61%, as specified in the award conditions.
The pumped storage project is expected to support grid stability and facilitate the integration of renewable energy by providing energy storage and peak power support.
