Hindustan Construction Company (HCC) and Tata Projects (TPL) secured a construction contract on Thursday, March 20, 2025. The JV will build a pumped storage project worth ₹2,470 crore in Maharashtra. The offer was made by Tata Power Company.
As of 10.22 AM, Tata Power share price was up 1.65%. It was trading at ₹376.45.
As per the stock exchange filing, the JV will construct an Off-Stream OpenLoop Pumped Storage Project (PSP). It will have an annual capacity of 1000 MW. The capacity will be split between 2×333 MW and 2×167 MW. The project will be based in Bhimpur (Karjat, Maharashtra).
The JV will construct dams and reservoirs under the project. It will also create tunnels to ensure seamless water flow. They will build a powerhouse for electricity production. They will also build supporting structures and roads. They will install screens and gates for controlling excessive water flow. They will also coordinate the entire electrical and mechanical work jointly.
HCC has successfully developed nearly 26% of India’s hydropower capacity. It is currently executing 5 different hydroelectric power projects. This includes the construction of a 1000 MW Tehri Pumped Storage System in Uttarakhand.
HCC share prices were down 2.23% on Thursday, March 20. They closed at ₹24.60 apiece, which was a decrease of 0.56 points. This is compared to the previous close of ₹25.16 per share.
HCC share price has delivered gains worth 426.77% over the past 5 years. The stock price has corrected by 43.46% year-to-date. During the past 6 months, it has declined 42.95%. The company’s market capitalisation is ₹4,997 crore as of 10.17 AM.
The contract is a significant win for Tata Projects and HCC. It reinforces their capacity and strength to lead India’s hydropower sector. The project will enhance Maharashtra’s existing energy storage capacity.
The JV’s ₹2,470 crore order from Tata Power Company will strengthen its position in India’s hydropower sector. It will also enhance India’s energy storage infrastructure, thereby accelerating the nationwide shift towards renewable energy.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in securities market are subject to market risks, read all the related documents carefully before investing. (write in all articles related to stocks).
Published on: Mar 21, 2025, 10:55 AM IST
We're Live on WhatsApp! Join our channel for market insights & updates
Get the link to download the App
