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The Solar Energy Corporation of India (SECI) has awarded a pumped storage tender to Greenko Energies Private Limited, Torrent Energy Storage Solutions Private Limited, and The Tata Power Company Limited.
SECI originally tendered the project in December 2025 for 1,000 MW/8,000 MWh Pumped Storage Plants (PSPs), which was later revised to 1500 MW/12000 MWh under the (PSP-I) tender in March this year, providing  8 hrs storage capacity.      
Among the successful bidders, Greenko Energies Private Limited secured 720 MW at a total storage cost of Rs. 1,34,90,000 per MW per annum, with an Equivalent Annual Fixed Charge (EAFC) of Rs. 1,09,67,479.67 per MW per annum.
The Tata Power Company Limited secured 660 MW under the tender. Out of this, 324 MW was awarded at a total storage cost of Rs. 1,35,10,000 per MW per annum, with an Equivalent Annual Fixed Charge (EAFC) of Rs. 1,08,41,826.50 per MW per annum.
Meanwhile, Torrent Energy Storage Solutions Private Limited secured a 300 MW project at a total storage cost of Rs. 1,35,00,000 per MW per annum.
According to the Central Electricity Authority (CEA), presently it has 11 Pumped Storage Projects (PSPs) of 15,870 MW capacity which are under construction. In addition, 6 PSPs of 8,140 MW installed capacity have been concurred/appraised by and are yet to be taken up for construction, according to Shripad Naik, the Minister of State in the Ministry of Power.  
Under the tender, SECI requires the Pumped Storage Plant Developer (PSPD) to make the energy storage facility available to the Buying Entities for charging and discharging on an on-demand basis. Bidders are permitted to develop the projects at sites selected at their own discretion and at their own cost, risk, and responsibility.
The tender supports the government’s efforts to expand pumped storage projects (PSPs). Earlier, the Ministry of Power (MoP) informed a committee meeting that India has identified around 224 GW of pumped storage potential. So far, 10 projects with a combined capacity of around 7 GW have been commissioned, while another 10 projects totalling about 12 GW are under construction.
Additionally, 56 projects with a combined capacity of nearly 78 GW are at various stages of planning and development. The Ministry also stated that all eight units of the 1,680 MW Pinnapuram Pumped Storage Project (PSP), along with the 500 MW Tehri PSP, are expected to be commissioned during 2025–26.
For a contracted capacity of 250 MW, the Power Purchase Agreement (PPA) entitles the offtaker to schedule the discharge of up to 2,000 MWh of energy from the PSP during each cycle. The Buying Entity will schedule the charging of the PSP with an equivalent amount of energy, along with the energy expected to be lost due to conversion losses, as determined from the Declared Cycle Loss (DCL) of the system quoted by the bidder.
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