Tata Power Share Price in Focus; Receives SECI Letter of Award for 324 MW Pumped Storage Project

Tata Power Company Limited has received a Letter of Award (LoA) from the Solar Energy Corporation of India Limited (SECI) for providing pumped storage services from a 324 MW / 2,592 MWh Pumped Storage Plant (PSP).  

The company disclosed the development through a regulatory filing dated July 18, 2026. SECI is a Government of India enterprise responsible for implementing renewable energy programmes.  

Scope of the Project 

The award relates to the supply of energy storage services for a period of 40 years from the scheduled commencement of supply. The project involves a pumped storage facility with an installed capacity of 324 MW and an energy storage capacity of 2,592 MWh.  

As outlined in the filing, SECI will execute a Pumped Storage Purchase Agreement (PPA) with Tata Power after entering into Pumped Storage Sale Agreements with the buying entities.  

Commercial Details 

The Letter of Award provides for an annual fixed charge of ₹1.0841826 crore per MW. For the contracted capacity of 324 MW, the annual fixed charge works out to around ₹351.3 crore.  

The filing also specifies an annual cycle loss of 24.61%, which forms part of the commercial terms agreed between the parties.  

Project Timeline 

The company is required to commence supply of the contracted storage capacity within 36 months from the effective date of the Pumped Storage Purchase Agreement. The order has been awarded by a domestic entity.  

The LoA sets out the broad terms of the project, while the final contractual obligations will come into effect after the execution of the purchase agreement.  

Regulatory Information 

Tata Power said the promoter, promoter group and group companies do not have any interest in SECI in connection with the award. It also stated that the transaction does not qualify as a related-party transaction under the applicable SEBI regulations. These disclosures form part of the company's mandatory regulatory filing.  

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Tata Power Share Price Performance  

As of July 20, 2026, 1:14 pm, Tata Power share price was trading at ₹383.60, up 1.68% from the previous closing price. 

Conclusion 

With the Letter of Award in place, the project will proceed towards the execution of the required agreements. Tata Power will begin supplying storage capacity within the timeline specified under the contract. 

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