The 300mw hydro station was started at Bhira in 1922 by the Tata Power company. Bhira power station with a 6 x 25 MW generating units (double overhang Pelton turbines), along with other hydro and thermal power stations belonging to TPCL, forms a vital link in sustaining the industrial activity of Mumbai-Pune region of Maharashtra state.
But Bhira is also a great Monsoon Getaway for those living around Mumbai. The place is extremely scenic with a waterfall and a wooden bridge crossing the breadth of the waterfall. The power generated from this dam is the backbone of the many industrial activities in Mumbai Pune region. Water rafting of the kundalika river mainly depends on the water released from this dam. The Bhira dam, surrounded by lush greenery, is an amazing picnic spot worth for a visit to spend holidaying in a cool environment. 
A new addition of 150MW of Pumping Storage Unit has been made in Bhira in 2002. Tata power company, a pioneer in introducing new technologies to India was the first to put up a Pumping Storage type turbine in the country. Total capacity of generating electricity at Bhira power plant is 315MW.
2008 - Central Electricity Authority (CEA) has awarded Tata Power's Bhira Hydro generation facility with the Silver Shield award for meritorious performance. CEA had selected the 80-year-old Bhira and Bhira Pump Storage Scheme (6X25 + 1 x 150mw) as second best performing station in the country. 
2009 - Ministry of Power and the Central Electricity Authority (CEA), awarded Tata Power’s Bhira Hydro generation facility as the second best performing station (Silver Shield) in the country for 2007-08, in the category of 'Power stations more than 100mw'. This award is part of the comprehensive award scheme for recognising meritorious performance of power utilities. Bhira Pump Storage Scheme (6x25 + 1x150mw) has been selected as the second best performing station in the country