Avaada Group has signed a memorandum of understanding with the Maharashtra government to develop two pumped storage hydro projects with a combined capacity of 3,600 megawatts (MW). The total investment is estimated at Rs 151 billion.

The projects include the 2,400 MW Pawana Falyan facility and the 1,200 MW Sirsala facility. According to Avaada, the developments are expected to generate more than 3,800 direct employment opportunities and contribute to Maharashtra’s ambition of becoming a leading clean energy hub.

These pumped storage projects are designed to enhance the state's energy security by providing round-the-clock renewable power, supporting grid balancing, and integrating clean energy into the power system.

The agreement was signed between Avaada and multiple state agencies, including the Water Resources Department, Maharashtra State Power Generation Company (MAHAGENCO), and Mahagenco Renewable Limited (MAHAREL).

Chief Minister Devendra Fadnavis confirmed that the broader plan includes pumped storage projects totalling 8,905 MW with Rs 572.6 Bn in investment and the creation of around 9,200 jobs. Sites include Ghatghar, Kodali, Varasgaon, and Panshet among others.

The state aims to generate 50 per cent of its total energy capacity from renewable sources.

Source:Press Trust of India (PTI)