Tata Power’s board of directors has approved an investment of Rs 11,871 crore in a 1,800 MW pumped storage project (PSP) at Shirwata in Maharashtra. The project is expected to be completed within 51 months. The total investment will be funded through a mix of debt and equity, with debt accounting for 75% of the funding and equity contributing the remaining 25%. Tata Power said, “the pumped Storage Hydro Project (PSP) will be instrumental in Renewable Energy Round the Clock (RE-RTC) applications, facilitating energy shifting, and contributing to the decarbonize hard to abate industries.”